These investors will earn Community Investment Tax Relief (CITR) over the next five years, while their money — distributed in loans to local businesses — will help boost the local economy. 5% of the sum invested can also be claimed as a deduction from Income Tax or Corporation Tax bills each year for five tax years.
The money from the share offer will enable ART to lever-in additional funds, bringing its total for lending in 2019/20 close to £3m.
Building on the success of this year’s offer, ART is planning to provide a further opportunity for investors in the 2019/20 tax year, through the leading positive investment platform Ethex. This offer too will give investors the additional benefit of Community Investment Tax Relief.
Chief executive Steve Walker says the ART team is looking forward to helping businesses of all kinds — including social enterprises — access the finance they need to survive and thrive. “We offer loans of between £10,000 and £150,000,” he says, “with an average loan size of £35,000. That is a sum which many businesses struggle to access from elsewhere.”
→ Find out more about ART loans and investment opportunities or call 0121 359 2444.