“What I am hearing is that ART’s new Community Share Offer is innovative, a very sound, solid, investment with a good rate of return.”
The Family Business Man, Peter Roper, having interviewed some of our borrowers and investors at our AGM, summed up by saying: “What I am hearing is that ART’s new Community Share Offer is innovative, a very sound, solid, investment with a good rate of return. 5% per annum is incredibly competitive, not only as a social investment on the Ethex platform, but also compared to other investments like ISAs and Bonds. It is impactful, as we have heard from ART’s borrowers, so a worthwhile and interesting proposition.”
ART’s 22nd AGM was held at i-Centrum, Innovation Birmingham Campus on 27th September and was attended by over 100 guests, including members, shareholders, borrowers and supporters.
Speaking at the AGM, ART’s Chair Nick Venning said: “Demand for loans from businesses unable to access finance from the banks continues to grow. We know it will persist and we must be ready to meet that challenge – Brexit or not, whether the economy is slow or strong. Loans to small businesses enable them to survive and grow, which creates more employment – and that is a sure fire way to tackle poverty. ART lent £3m in the financial year ending 2019 and is on track to lend £3.5m in the financial year ending 2020. Raising money to lend is a strategic imperative – we have to put our borrowing horse before our lending cart so to speak – and are seeking to raise additional capital from a variety of sources, including this latest Community Share Offer via the Ethex social investment platform.”
ART’s Chief Executive, Steve Walker, added: “Our second strategic imperative is to raise awareness of what we do, to ensure that those businesses and social enterprises that need us know we are here. We are a small business ourselves, so that continues to be a challenge even after 22 years. Many of our borrowers find us through their brokers and accountants and I would like to thank them, as well as the ART team and volunteer Board for their ongoing support and enthusiasm for what we are trying to achieve – access to finance for underserved businesses and business owners throughout the West Midlands.”
The financial return on ART’s Community Shares is via Community Investment Tax Relief (CITR), which offers 5% per annum of the sum invested off UK personal or corporate tax liabilities for a five year period. That is worth 9.1% to the highest rate personal tax payers. In addition to that there is a social return from providing access to finance to those who would otherwise struggle to fund their businesses and a wider impact on the West Midlands economy from an influx of business finance that helps to create and preserve jobs.
To find out more, or to invest in ART’s Community Shares
ART Business Loans AGM 27th September 2019
