Emmaus Village Carlton provides accommodation and employment opportunities to homeless people. The charity took out a loan to help refurbish a building for reuse as part of the ongoing improvement programme on its 15 acre site.
Frank McMahon, Chairman of the Trustees of Emmaus Village Carlton, says “We first borrowed from Charity Bank to transform the bistro, resulting in an extra £500k of revenue we wouldn’t have earned otherwise. All the profits go back into the community.
For the warehouse refurbishment, Charity Bank provided bridge funding. Since phase one finished, trading in furniture and in our boutique has increased 20%.
“My message to other charities that may be nervous about borrowing is they should consider it. We have proved that investing has worked. Every time we make improvements we experience an increase in financial return. This has also given our Companions – the people who live and work in the community”.