Another year (nearly) over, a new one to come… | Blog | Foundation East

Another year (nearly) over, a new one to come…

8th November 2016 By Katy Ford in News

As the end of the year comes sharply into focus, I’d like to share with you the amazing work the strong team at Foundation East continue to deliver, in spite of the odds stacking up against us. I’d like also, to ask for your support in enabling us to continue to make such a positive social and economic impact across the East of England throughout 2017 and beyond.

In 2016 finance from Foundation East helped create and save 281 jobs…

As Peter Jones, our Chair shares in his prelude in our 2016 Shakespearean themed annual review, “it has been a mixed year to say the least.” Even though funding cuts from government sources will now lead to cut back our services in 2016 we once again exceeded loan disbursal targets, helped to create and save 281 jobs in the region and reduced the cost of delivery.

In 2016 Foundation East helped 144 businesses across the East of England...

It’s not just the jobs created and saved that positively impact our communities though. The investment we make, in terms of cost to provide the finance and support service in turn saves the cost of welfare payments, increases revenues In fact, using data from the 2014/15 year, for every £1.00 we invest, £15.68 of social and economic value is produced.

Every £1.00 Foundation East invests, generates £15.68 of social & economic value…

We do more than just provide loans to our clients. We provide expert business mentoring and support too, which is why a large proportion of the clients we helped go on to meet mainstream borrowing criteria, continuing to boost local economic multiplier long after we supported them.

Foundation East is more than just a funder…

As our clients explain in our 2015/16 annual review and case studies, we are more than just a funder. In fact, we are the first port of call for many business bank managers when they see a business they’d like to help, yet, due to increasingly restrictive guidelines, are unable to.

Foundation East needs your support to continue helping your community in 2017 and beyond…

As more and more local High Street branches across the East of England close, clients like those whose stories you can read in our annual review, are going to struggle to know where to turn. Our fear is that they will turn to less scrupulous lenders. If they do, their stories will be nothing like those in our review. Instead, they will become the true life tales of people with viable business ideas becoming locked into poverty, unable to escape the consequences of accepting the unethical interest rates and fast repayment terms of a growing sector of predatory lenders.

As a Responsible Finance provider, we assure you that we are doing everything possible to lobby for and access to fair finance to enable us to prevent this from happening. Your help though, and that of your network of like-minded individuals and businesses is vitally needed.

If you, like us, believe in equal opportunity for all, we are sure that you’ll find the work we do, and the stories of the people we help, interesting and captivating. We encourage you to take a look at and to share our 2016 Annual Review. We ask you to, please, consider becoming a member.

Foundation East offers membership benefits …

As well a 5% per annum tax relief on your investment, benefits of membership include knowledge that:

  • 100% of your investment is lent to financially excluded small businesses in the East of England
  • Your investment is safeguarding and creating jobs in the region, leading to a reduction in welfare payments and an increase in tax contributions
  • Your investment is directly supporting local businesses and increasing economic productively in the East of England

Any questions? Please email me. I’d be delighted to help.

  • About the Author
    Katy Ford

    Katy Ford

    Katy’s knowledge of community finance is extensive, having worked for Foundation East since its inception in 2004. She is recognised locally as an influential business leader by the Suffolk 100 and nationally, as a founding member of AskIf, an online network of community-based lenders. Previous to moving across to community finance, Katy was the treasury manager for a large insurance company. She also has experience as a SME owner, having run a small hotel.

Click here to Invest Online Now