CDFI Busines Loans job role
CDFI Business Loans Ltd (CBL) is seeking to recruit a Non-Executive Director for its Board.
CBL’s mission is to provide access to finance for underserved Micro, Small and Medium sized Businesses (MSMEs) in the UK to help improve the social and economic outcomes for disadvantaged businesses, people and communities.
CBL’s aim is to create a fund from which £60m will be lent (via a team of Delivery Partners) to 2,000 MSMEs in the UK. Lending to disadvantaged MSMEs will have significant social and economic impacts including the creation and saving of 5,200 jobs.
CBL was established by a consortium of seven Community Development Finance Institutions (CDFIs, now rebranded as Responsible Finance Providers). Responsible Finance Providers lend to MSMEs throughout the UK which are in need of accessible, affordable and equitable finance. Responsible Finance Providers use traditional banking techniques to assess the viability and risk associated with lending to MSMEs while also take into consideration the social impact of supporting enterprises that other lenders do not.
These seven Responsible Finance Providers will be CBL’s Delivery partners.
CBL will offer loans of between £10,000 and £100,000 to established MSMEs at commercial interest rates for periods up to 5 years.
The CBL consortium has already engaged with banks, equity investors, HMRC and guarantee providers, both in the UK and in Europe, in order to minimise the risk of lending to the MSME market and to maximise returns to the investors. It is now at a stage where an independent Board of Directors is required to provide strategic oversight of CDFI Business Loans Ltd (The Fund) following its launch (planned for 1 April 2016).
The Fund will be managed by a contract management team, yet to be recuited.
We would expect applicants for the role of Non-Executive Director to recognise the importance of affordable and accessible finance to MSMEs and have a basic understanding of tax relief schemes, in this instance Community Investment Tax Relief, first loss guarantees mechanisms and experience of debt finance.
If you would like to discuss any aspects of our bankground ahead of applying for the role, please call Peter Newnham on 01606 882923 or 07711 588007.