New research by GHK Consulting for the Dept of Business, Innovation & Skills and the Office of the Third Sector offers a ‘ringing endorsement’ of the CDFI sector, says Bernie Morgan, CEO of the sector’s trade association. New Start covers the story here.
Community development finance institutions — a sector that in its present form is barely twelve or thirteen years old in the UK, it should be remembered — more than triple every pound they invest in local areas, according to the report. Nonetheless, like much of the social enterprise sector, the report also concludes that they remain hampered by a “lack of comprehensive data and agreed reporting frameworks”.
Our own ART is a prominent case study in the report (on p.181, which gives you a clue that it isn’t a short report….).
In late-2009 the sector’s active loan portfolio comprised around 6,500 loans — and totalled just over half of the £600m loan capital available to the sector.