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Lloyds Bank backs new £62m community development fund

  • Lloyds Banking Group is leading a £62 million investment in the Community Investment Enterprise Fund (CIEF), which aims to support small businesses in England and Wales that may be overlooked by traditional lenders.
  • The CIEF will provide funding to Community Development Finance Institutions (CDFIs), non-profit lenders that serve underserved communities.
  • The first three UK CDFIs to receive capital from CIEF are BCRS Business Loans, Business Enterprise Fund, and Finance For Enterprise.
  • The initiative aims to support 800 small businesses and create 10,500 jobs.
  • The fund is managed by CDFI Social Investment Scotland and also backed by Big Society Capital.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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