Foundation East
| website: | http://www.foundationeast.org |
Company details
[Login to edit this information]What does it do?
Foundation East is a finance company offering loans to small and medium sized businesses, for start up or expansion and are aimed at businesses who are unable to get all the funding they need from mainstream banking.How is it social?
Foundation East contributes to social inclusion by:
a) developing and delivering accessible financial products and services for businesses and individuals
b) Engaging in the development of Community Land Trusts to provide local communities with access to and benefit from land and property assets
What is its business model?
Foundation East is a non-profit distributing organisation that operates across the East of England (comprising Norfolk, Suffolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire).
The finance company lends money to new businesses and existing businesses that can’t get a loan from a bank or need additional funds to match bank lending.
It also offers personal loans in some areas through partnerships with housing associations and other social landlords.
Foundation East also develops Community Land Trusts to enable local people to own and control local assets. This initiative is designed to create affordable housing and managed workspaces, particularly in rural communities. Our first working Community Land Trust is Miles Ward Court in Halesworth, Suffolk comprising 8 managed business workspaces.
Its history
Foundation East was launched in 2003 and opened for business in Spring 2004. Initially trading as Suffolk Regeneration Trust the organisation worked mainly in the Suffolk area.
The need for a new organisation was identified from research undertaken in the Spring of 2002 by the Community Finance Solutions team at the University of Salford. The research involved small businesses, social enterprises and voluntary organisations, enterprise support organisations and housing and regeneration bodies. The research highlighted a lack of provision in rural financial services that Foundation East now helps to address.
Suffolk Regeneration Trust became Foundation East in Spring 2006 – the name reflecting both the geographic reach of the organisation and the role it plays in helping individuals and communities to build their futures.
More information
| Current shareholders: | No information provided |
| Chair: | No information provided |
| Year of incorporation: | 2004 |
Company snapshot
| Company type: | I and PS |
| Address: | 1 The Lentins, Pettaugh, Stowmarket, Suffolk, GB, IP14 6TA |
| Telephone: | +44 (0)1284 757778 |
| Blog: | |
| CEO: | Katy Ford |
| Industrial sector: | Financial services |
| Social / Environmental benefit: | Ethical finance and investment; Community development; |
| Certifications: | Not Applicable; |
| Social business sector: | Ethical Money; |
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