Our investment in Sandwell Community Caring Trust (SCCT) will enable the social enterprise to buy a 62-bed residential care home to support disabled and elderly people with dementia.
The deal is our twelfth investment in the health and social care sector, and demonstrates our mission to use finance as a tool to help communities and people in needour mission to use finance as a tool to help communities and people in need.
The newly built 62-bed residential care home - Hall Green - will be used by Sandwell Community Caring Trust to deliver high-quality specialist dementia care. SCCT is a social enterprise that provides housing and care services for disabled and elderly people in the West Midlands and Devon.
The finance has been provided in partnership with Unity Trust Bank, a leading provider of loans and banking services to the social economy sector.
SCCT chief executive Geoff Walker said:
“Working with Big Issue Invest has made it possible for Sandwell Community Caring Trust to secure the long-term future of 100 older people suffering from dementia and other related problems. BII was flexible, creative and prepared to work in partnership.”
Nigel Kershaw, chief executive of Big Issue Invest and chair of The Big Issue, said:
“Our mission is to dismantle poverty and inequality, and we do this by investing in social enterprises and charities providing sustainable solutions to social and environmental challenges. We work with organisations that have a track record and deliver high social impact – we’ve invested in 160 so far and we want to help many more.”
Other recent investments in the health and social care sector include:
•Birtenshaw, a Bolton-based charity providing services for children with severe learning and physical disabilities.
•Midland Psychology CIC, a community interest company offering mental health and support services to children, young people and families.
•Highland Home Carers, an employee-owned organisation offering at-home care services for vulnerable people in the Highlands of Scotland.
Download the full Press Release below and read more about our partnership with Sandwell CCT in this article which featured in The Big Issue magazine (July 8-14, 2013 No. 1059)
“Putting people first came over so powerfully when we first met Geoff in 1996 when he was setting Sandwell up,” says Nigel Kershaw, CEO of Big Issue Invest and Chairman of The Big Issue Group. “This respect now runs right through the organisation and makes it such a proud investment for us.”