The Five Lamps OrganisationPublished: 07 June 2017
- Organisation Name: The Five Lamps Organisation
- Region: North East
Five Lamps’ mission is to remove the barriers that face troubled families. Their work transforms lives, raises aspirations and enables social, economic and financial inclusion.
The £1m loan from Unity Trust Bank will fund over 2,000 loans during 2017 of approximately £500 each over periods of up to 12 months. A typical Five Lamps short-term loan of £500 not only provides the vital cash a family needs to survive, but can also help them to save £170 of interest over a 26 week loan term when compared to other loan methods. This saving can be the difference between people being able to feed their families and also preventing them getting into further debt.
Graeme Oram, Chief Executive of Five Lamps commented on Unity’s support: “As a charitable organisation Five Lamps requires a banking partner that fully understands and supports the work that we undertake on a daily basis.
“The funding we have received from Unity Trust Bank has enabled us to carry on making a real difference in society, improving people lives and creating possibilities for communities across the UK.”