Salad Money launches new IFISA bond on Ethex platform
Responsible finance provider Salad Money has launched another IFISA-eligible bond on ethical investment platform Ethex.
This is the second IFISA-eligible bond offer to be launched by Salad Money on the Ethex platform. The first bond has a forecast return of nine per cent and has already exceeded its £500,000 fundraising target, with £960,000 raised to date.
“Every pound that we raise on Ethex will be used for lending capital, rather than being spent on overheads,” said Tim Rooney, chief executive of Salad Money.
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“Each time one of our loans is repaid, we recycle every pound. This meant that our previous Ethex raise has already facilitated millions of pounds of affordable loans to workers who are hampered by poor credit scores, but who open banking tells us can afford to repay.
“And this raise means we can do more of the same – reaching our target of £400,000 would facilitate more than £60m of affordable loans over the next five years.”
The new bond has a maximum raise of £1m.
Like its predecessor, this bond has a minimum investment threshold of £250. Up to £20,000 can be sheltered within the IFISA tax wrapper during each fiscal year.
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“We’re delighted that Salad Money is launching its second bond on Ethex,” said Lisa Ashford, chief executive of Ethex.
“Investment opportunities with ethical finance providers are gaining popularity with our audience.
“These successful raises are superb examples of retail investor interest in supporting community finance firms that are taking action where the UK banking system has failed hundreds of thousands of families across the UK.”
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