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Social enterprises to benefit from landmark Santander partnership

Praseeda Nair | 4 October 2016 | 8 years ago

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The Changemaker Fund will see Santander provide eligible projects with funding of up to 10, 000
In the first ever partnership deal between a popular UK bank and an equity crowdfunding site, Santander UK and Crowdfunder have joined forces to offer greater support to charities and social enterprises.

The so-called Changemaker Fund will see the two finance providers collaborate to help disadvantaged people, offering eligible UK charities and social enterprises those seeking funding of up to 20, 000 with 50 per cent of their capital requirement.

The partnership will provide successful applicants funding of up to 10, 000, as well as access to education, enterprise and coaching support from Crowdfunder’s team of specialists.

In a statement, Crowdfunder’s managing director, Phil Geraghty, spoke of the long term economic impacts? that the new partnership would create.

He said: The new partnership between Crowdfunder and Santander is a key milestone for the crowdfunding industry opening up powerful networks and opportunities between the banking sector and the next generation of changemakers.

Sue Douthwaite, managing director of Santander Business Banking, praised the potential of the new fund: Our purpose is to help people and businesses prosper and we recognise the important role social enterprises and charities play in helping communities to thrive.

with the power of the Crowd, our 200, 000 Changemaker Fund will help bring great ideas to life and enable social enterprises and community ventures to grow, she said in a statement.

The Changemaker Fund represents the latest part of Santander’s Discovery Project a community programme that looks to support entrepreneurs and community groups in projects that build skills, grow knowledge and support innovation.

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