Triodos Bank unveils latest IFISA-eligible charity bond
Triodos Bank has launched the latest charity bond through its crowdfunding platform.
Nottinghamshire YMCA is looking to raise £3m from investors to help complete its Newark and Sherwood Community and Activity Village.
Investors are being offered annual interest of six per cent for six years on the Innovative Finance ISA-eligible product.
The proceeds will be used to complete development of the Nottinghamshire YMCA’s community centre which aims to provide accessible educational, health, and leisure services.
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“The village project has been shaped with local people over several years, to support local aspirations and local challenges,” Todd Cauthorn, executive director at the YMCA in Newark and Sherwood, said.
“We want to bring people of all ages and backgrounds together to improve community cohesion, skill levels, confidence, educational attainment, employment and health.
“The investment crowdfunding will help us to complete this project and to start building a brighter future for this area and its community.”
Dan Hird, head of corporate finance at Triodos, said the pandemic has shown the importance of strong communities supporting each other.
“The impact of this new facility will be felt across every generation helping to tackle a high level of childhood obesity, lower educational attainment, a lack of social mobility and ill health,” he said.
“Nottinghamshire YMCA is fully committed to building and delivering this project and we are delighted to bring it our platform as it’s the kind of impactful and powerful investment we’re sure our investors would like to support.”
The crowdfunding platform helped raise £5m for the Thera Trust charity bond earlier this year.
