New loans of up to £3m for voluntary groups
Big Society Capital, which is backed by £200m from the 'big four' high street banks, is joining up with Santander to deliver the bulk of a new £30m fund that could offer individual loans of up to £3m to voluntary organisations. The UK arm of Santander will provide £13.5m and Big Society Capital is putting forward £15m. Loans will be charged at rates of interest ranging from 6% to 12%.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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