The Sandwell Community Caring TrustPublished: 17 October 2014
- Organisation Name: The Sandwell Community Caring Trust
- Region: West Midlands
We worked together with Big Issue Invest in a deal where The Sandwell Community Caring Trust (SCCT) benefitted from a £4.25 million financing package to enable it to purchase a newly built 62 bed care home – Hall Green residential care home in West Bromwich. This residential home has enabled SCCT to provide a new level of support to older people with dementia.
A charity based in Sandwell, West Midlands, SCCT provides a range of adult services, and equally has been a financial success since its spin out from the local authority in 1997.
SCCT had the vision and ability to provide suitable specialist care homes for dementia sufferers. All that stood in the way of SCCT’s vision was the lack of cash reserves to provide the deposit for the loan, to purchase Hall Green premises.
Inspired by the determination of the charity and its Chief Executive Geoff Walker to achieve its goals, Unity Trust Bank and Big Issue Invest were able to provide a complimentary finance package for SCCT; with a £3.5m loan from Unity against the security of the premises and a £725k loan from Big Issue Invest to cover the deposit required.
This innovative deal was recognised by Social Enterprise UK as Social Investment Deal of the Year 2013.