Lending from Triodos Bank funds expansion of community charity

Triodos Bank UK has finalized new lending to YMCA Dulverton Group, supporting the charity’s plan to expand its work supporting communities, families and vulnerable people across the South West.

The charity, founded in 1884, currently helps over 12,000 people each year across Devon and Somerset, offering a range of services, including nurseries, homeless accommodation, and youth and community provisions.

The charity also runs three hotels and a wedding and event venue as social enterprises, providing young people with training and education through support from experienced hospitality professionals.

The loan will refinance some of YMCA Dulverton Group’s existing lending and support the extension of its activities, enabling it to tailor services to individual communities and expand into new regional branches.

Phillip Bate, Business Banking Regional Manager for the South West at Triodos Bank UK, said: ‘YMCA Dulverton offers critical services for some of society’s most vulnerable young people, offering help and hope. We’re delighted to play a part in helping the charity increase its impact across Devon and Somerset.’

Martin Hodgson, CEO of YMCA Dulverton Group, added: ‘From the moment we contacted Triodos, we have felt supported in our aims in that we each understand the most important chain is why, then how, and then what. Working with a bank that shares this approach can only benefit the communities we serve and increase the impact of our work.’

As part of its growth, the Group will continue implementing its environmental impact policy, with electric company vehicles planned from 2022, reduction of single-use plastics to zero across all of its sites by the end of 2022, and continuing to source local food suppliers for each hotel and nursery.

In related news, almost £3.7m in place-based funding has been approved by Glasgow City Council to support projects which improve local communities.

Photo by BBC Creative