ICOF lends a record amount

ICOF, the Co-operative and Community Finance provider for social enterprises and co-operatives, reported a record year in lending at its AGM over Congress weekend. 

ICOF, the Co-operative and Community Finance provider for social enterprises and co-operatives, reported a record year in lending at its AGM over Congress weekend. 

Chair, John McColl said they had loaned over £1.2 million to various co-operatives and social enterprises all over the country, a 35 per cent increase on last year.

Mr McColl told shareholders that ICOF had also acquired the Building Communities Fund from the East of England Development Agency which is worth £300,000 in lending power. He said ICOF are seeking even more investment in the company so even more can be added to the £13m that has been lent since the company was founded in 1973.

Operations manager, Alain Demontoux, was positive about the outcome for next year too. He reported that finances for 2007 were on course to match, or even surpass, the successes of 2006.

In this article


Join the Conversation