In 2018 Co-op Loan Fund provided nine loans totaling £302,000.
Since the fund started in 2002 it has lent nearly £5m to 166 co-operatives throughout the UK.
When the loans are repaid the money is lent again to other co-operatives. 15 loans were fully repaid during 2018. At the end of the year the fund was worth £1.5m with £1.1m out on loan and £500,000 available to lend.
Co-op Loan Fund made another small operating surplus in 2018 which was reinvested into the fund. This means that all of our donors’ funds were available for lending and were not spent on administration.
Ian Rothwell, Investment Manager of Co-operative & Community Finance which manages Co-op Loan Fund, said: “It has been a busy year for Co-op Loan Fund with a wide variety of lending from video production in Clapham to an iron foundry in Falkirk, urban farming in Sheffield to hemp growing in Reading, web development in Birmingham to food initiatives in Greenwich. Our lending shows that there is real variety in the co-op sector and thanks to the co-op societies that continue to support the fund we are able to nurture this diversity.”