Dr Steve Walker, Chief Executive - ART Business Loans
Global technology company Block Inc and ethical lender Unity Trust Bank break new ground in impact and place-based investing in the UK with £4m investment into ART Business Loans (ART), one of the UK’s first Community Development Finance Institutions.
Block Inc, the technology company co-founded by former Twitter CEO Jack Dorsey, is making its first social impact investment in the UK, providing £2m capital to ART Business Loans (ART), which is being matched by well-established ethical lender Unity Trust Bank, a long-term backer of CDFIs.
ART, a Birmingham-based Community Development Finance Institution (CDFI), was founded in 1997 to help alleviate poverty through enterprise. ART lends between £10,000 and £150,000 to businesses in underserved and disadvantaged communities which are unable to obtain their full requirements from traditional banks.
Dr Steve Walker, chief executive at ART said: