{"id":27465,"date":"2018-10-09T17:10:35","date_gmt":"2018-10-09T16:10:35","guid":{"rendered":"https:\/\/www.theasiantoday.com\/?p=27465"},"modified":"2018-10-09T17:10:35","modified_gmt":"2018-10-09T16:10:35","slug":"call-for-more-local-support","status":"publish","type":"post","link":"https:\/\/www.theasiantoday.com\/index.php\/2018\/10\/09\/call-for-more-local-support\/","title":{"rendered":"CALL FOR MORE LOCAL SUPPORT"},"content":{"rendered":"

ART Business Loans (ART) was delighted to welcome the Secretary General of Co-operatives UK, Ed Mayo, to its 21st<\/sup> AGM, held at Innovation Birmingham Campus on 28th<\/sup>September.\u00a0 In his keynote speech, Mr Mayo talked about the value of Community Development Finance to the economy and the importance of Community Economic Development.\u00a0 \u201cThe process of working with local people makes a real difference,\u201d he said.\u00a0 \u201cWe are seeing new values-based movements growing as the public sector steps back.\u00a0 This is relevant in terms of the economy and Brexit, because we\u2019re going to have to encourage entrepreneurship and see real bootstrap development.\u201d<\/p>\n

Ed Mayo was co-author, with Pat Conaty who also co-founded ART and attended this year\u2019s AGM, of research published in 1998, entitled \u2018Small is Bankable\u2019.\u00a0 He has followed ART\u2019s development, with interest since the outset.\u00a0 \u201cIt\u2019s tough to be a non-bank in the lending market,\u201d he said, \u201cbut ART started with an idea about what it wanted to achieve, the impact it wanted to make, and can tell some inspiring stories about the difference it has made to thousands of businesses.<\/p>\n

In his opening remarks, Dr Nick Venning DL, Chair of ART, said: \u201cART pioneered a model of raising money through social investment to be lent locally 21 years ago and is about to launch another pioneering campaign to raise money from investors looking to use their money to achieve a social as well as a financial return.\u00a0 This will be via the Ethex social investment platform.\u201d<\/p>\n

Dr Steve Walker, Chief Executive of ART, said: \u201cWe are on track to lend \u00a32.5m this year, but have the capacity to lend up to \u00a34m.\u00a0 When we launched in 1997, we were supported by true social investors \u2013 whose only return was knowing the impact that their investment had had on the local economy.\u00a0 In addition, we are now also able to offer a financial return in the form of Community Investment Tax Relief and will be looking to raise at least \u00a3500,000 from individual and company investors in this financial year.\u201d<\/p>\n

Anyone interested in the investment opportunity can register to find out more via ART\u2019s website www.artbusinessloans.co.uk<\/a>.<\/p>\n

PICTURED (Left to Right):\u00a0 Dr Nick Venning DL – ART Chair, Ed Mayo – Secretary General of Co-operatives UK, Dr Steve Walker – ART Chief Executive.<\/p>\n","protected":false},"excerpt":{"rendered":"

ART Business Loans (ART) was delighted to welcome the Secretary General of Co-operatives UK, Ed Mayo, to its 21st AGM, held at Innovation Birmingham Campus on 28thSeptember.\u00a0 In his keynote speech, Mr Mayo talked about the value of Community Development Finance to the economy and the importance of Community Economic Development.\u00a0 \u201cThe process of working […]<\/p>\n","protected":false},"author":1,"featured_media":27466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,53,75,112],"tags":[1600,1602,1601],"class_list":["post-27465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-latest","category-money","category-top-stories","tag-art-business-loans","tag-dr-steve-walker","tag-ed-mayo"],"_links":{"self":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/posts\/27465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/comments?post=27465"}],"version-history":[{"count":0,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/posts\/27465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/media\/27466"}],"wp:attachment":[{"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/media?parent=27465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/categories?post=27465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theasiantoday.com\/index.php\/wp-json\/wp\/v2\/tags?post=27465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}