Reliance Bank is a specialist Business and Retail bank, offering Business & Charity current accounts, savings accounts and business loans
But it’s also so much more than that
As part of The Salvation Army, our mission is to serve customers and communities with compassion and integrity
CFN is our Commercial Finance Newsletter that will bring you the most recent insights and updates from Reliance Bank's Commercial Finance team
Look out for upcoming newsletters filled with valuable content, customer stories, and stay informed about business development
As the Chief Executive Officer for Reliance Bank, it is my pleasure to share our Commercial Finance Newsletter detailing our positive contribution to the network of Commercial Finance brokers Reliance Bank prioritises business lending to organisations that deliver positive social impact in the UK.”
Reliance Bank has been at the forefront of socially responsible banking since 1890, when we were founded as the bank for The Salvation Army.
Reliance Bank are proud of its shareholder The Salvation Army International, who help people whose lives have been affected by emergencies, disasters, poverty, and social inequality.
We have a specialist understanding of the following key sectors:
Reliance Bank have been awarded “Community Lender of the Year” by NACFB.
Congratulations to the Reliance Bank Commercial Finance team for their achievement at the NACFB Commercial Lending Awards at Westminster Plaza on Thursday 28th November 2024.
Demonstrating commitment to the community
Over 90% of new lending in the year is in social impact sectors, which represents 70% of the total Commercial portfolio.
We’ve supported Charities and Businesses for over 135 years and we empower them to grow.
Reliance Bank provide Commercial Finance
Loans to a support:
Private and charitable organisations
Small and local businesses to assist their growth
Recreation and activity centres
Specialist educational establishments including those helping people with additional educational needs
Training centres
Community hubs
John Myles - Relationship Director
ohn.myles@reliancebankltd.com
The JPK Project provide opportunities for people with learning difficulties. The first phase of the project included the renovation of a church into a Café, restaurant, and community training centre This has enabled JPK to offer work experience and training placements for people with learning difficulties, giving them the opportunity to learn skills in hospitality, customer service, catering, food hygiene, housekeeping and information technology.
The second phase of the project was to build apartments for people with learning difficulties to live in supported living. JPK were very happy to receive the funding support from Reliance Bank because of their commitment to organisations that deliver a positive social impact in the UK.
Reliance Bank’s commercial loan has been used to help assist in the building project which will provide supported living in the form of eight flats, to provide a safe environment for people with learning difficulties. The communal rooms include a kitchen, laundry, storeroom and lounge/dining room to enable tenants to mix, build friendships and learn self-help skills.
Reliance Bank provide Commercial Finance
Loans to a support:
Faith organisations
Religious orders
Christian organisations
Temples
Mosques
Synagogues
Traditional Churches and modern buildings to be used as main place of worship and meeting space
Investment properties to generate income to meet charitable objectives
Housing for faith leaders
Religious schools and colleges
Theological colleges
A warm and welcoming Christian church in an area that has some of the lowest levels of social mobility in the UK This means that many of the residents are in low paid employment for much of their life For that reason, the church provides several facilities, some for the specific needs of these low-income individuals and families and some for any residents wanting support, company and friendship.
Reliance Bank provided a loan to the church which enabled them to purchase the old chapel and carry-out major modernisation and refurbishment work that was required to provide services to the community
The church Café serves roughly 500 free meals each month And 240 visitors use the church centre for worship and prayer, Breathing Space, Toddler and baby groups, a women’s support group and meetings and special events each month. The church foodbank provides 230 weekly shopping bags to people who are struggling financially. This is a vital lifeline for those who are most in need, for example, those who are waiting for a benefit payment to arrive or struggling to survive on a very low income.
Reliance Bank provide Commercial Finance Loans to support:
Care homes with mix of residential and nursing accommodation
Day centres providing respite, convalescent and palliative care
Specialist care, brain injury, mental health and rehabilitation services
Children’s care services
Experienced operators looking to expand services
First time buyers with experience in running businesses and social care
GP surgeries
Dentists
Pharmacies
Reliance Bank has a specialist knowledge
of the sector and work with clients looking for a partner to support their growth and improvement plans.
To find out how we can help you, contact our Healthcare Lending Lead
Our client an established and respected provider of compassionate care for the elderly in Dorking, and the surrounding areas, including those with Dementia and complex needs. The nursing home also offers day care provisions to residents, playing a vital role in the local community.
Solution
The client was looking for a long-term banking partner to support their ambitions of growth. Recognising this, the Commercial Finance Relationship Team for Reliance Bank were able to provide suitable facilities to refinance the existing facilities and empower their ambitious expansion plans.
Reliance Bank’s commitment goes beyond just financing, giving money meaning by contributing to supporting a provider offering improved quality of life for the elderly, peace of mind for families and a central healthcare service to the community.
The funding has helped the ongoing support to:
33 bed spaces for elderly residents including those with complex nursing needs and dementia
We are supported by 1 GP practise and 1 pharmacy
17 extra bed spaces planned
2 day-care spaces to be expanded to 5
We also support clients in their own homes through our domiciliary care service, Surrey Downs Homecare Ltd
Reliance Bank provide Commercial Finance Loans to support a range of operators providing:
Assisted and supported living for a range of needs from independent to complex requiring one-to-one care
Affordable housing
Temporary accommodation
Children’s homes
Residential treatment centres
Registered social landlords and independent operators
Three brothers named Andrew, Daniel and David have very complex support needs and receive around the clock support from their Housing provider (our customer) in a rented property. However, the Landlord made the decision to cease its operations in the area and planned to sell the building with the risk that the brothers could be split up and moved to different places
The Housing provider was determined to purchase the property but required a likeminded lender to support them. Having undertaken an extensive market review, they began their relationship with Reliance Bank
Now that the Housing provider own the property, they have been able to invest and improve property standards. The Housing provider can deliver on the commitment they made to the parents, keeping the brothers together in a place they call home with the things that matter to them, in a community where they can smile, laugh and grow.
Our Relationship Directors have proudly funded the following deals:
Funding amount: £450K
Sector: Faith
Purpose: Purchase a new church building
Funding amount: £700K
Sector: Community
Purpose: Refinance and refurbishment at a school
Funding amount: £1 83M
Sector: Healthcare
Purpose: Refinance of 2 care homes
Funding amount: £1 3m
Sector: Social Housing
Purpose: Purchase of property as specialist treatment centre
Funding amount: £1 1m
Sector: Faith
Purpose: Purchase of a new property for a church
Funding amount: £520K
Sector: Social Housing
Purpose: Purchase of a supported living business
At Reliance Bank, we are dedicated to transparency and ensuring that our customers are fully informed about the financial products we offer
We prioritise our business lending to those organisations that deliver positive social impact in the UK.
We
Features:
Tailored loan pricing on a case-by-case basis
Simple application process and fast decisions
Early indication of our appetite to lend
Specialist not-for-profit sector experience
Tailored solution to suit your organisations unique requirements
You’ll have a named Relationship Director and Portfolio Manager to contact directly when you need to speak to someone.
Reliance Bank aligns its lending policies to the United Nations Sustainable Development Goals (SDG’s) – a global framework for governments, businesses and societies to help reduce poverty, protect the planet’s future and improve people’s lives
Reliance Bank’s funding helped:
Reduce poverty for People
545
Reduce hunger for People
2,100
256 People with their health care needs
2,900
People with community centres and facilities
443
People receive personal learning and development opportunities
Created and protected Jobs
76
Reliance Bank has been a refreshing partner and understands our vision for the future. Their supportive team provided a seamless, and efficient service With a Bank which has listened and the experience it gives us confidence to continue our growth plans ”
We were introduced to David Price at Reliance Bank who immediately understood the need for funding and the benefit of purchasing Laboratory Cottage that would provide a significant resource to support our future plans. Reliance Bank have a unique knowledge of faith organisations and were keen to support our plans to develop a permanent hub for young people to feel cared for and included ”
How does the Budget announcement affect the businesses we serve?
The Autumn Budget 2024, presented by Chancellor Rachel Reeves was Labour’s first in 14 years and will impact small businesses nationwide It includes £40bn in tax rises to shape economic growth.
A major part of the budget is the £25bn hike in employers’ national insurance contributions (NICs) by the end of parliament This has raised concerns about hiring and wage increases. The Office for Budget Responsibility (OBR) believes 60% of these costs could be passed on to workers and consumers by 2025-26
Yet, the budget also has support for small businesses
The employment allowance will double to £10,500, helping one million small businesses. This change aims to meet the economy’s needs while easing small business pressures.
£40bn in tax rises outlined in the Autumn Budget 2024
£25bn expected revenue from increased employers’ NICs
Employment allowance doubled to £10,500 for small businesses
60% of higher tax costs may be passed to workers and consumers
International Monetary Fund endorses investment and sustainable tax rises
Concerns raised about impacts on hiring and wages
Budget aims to balance fiscal responsibility with economic growth
Employers’ National Insurance Contributions (NICs) will go up significantly. This will raise £25 billion by the end of parliament. Experts say this could lead to 50,000 jobs being lost on average.
To help small businesses, the employment allowance will double It will now be £10,500, up from £5,000. This will help about one million small businesses, giving them some relief.
The eligibility criteria in relation to the employers’ national insurance annual threshold of £100,000 has also been removed, allowing all businesses to take advantage of the employment allowance
Business Property Relief (BPR) on AIM stocks will not be completely removed. This decision aims to help businesses grow while also raising taxes.
Care Homes are facing higher costs due to National Insurance Contributions and minimum wage hikes. The increase in the National Living Wage to £12 21 and additional increase to under 21-year-olds per hour from April will add more pressure.
Retailers are looking at new ways to hire and set prices because of tax changes. They need to balance higher labour costs with keeping prices competitive. Business investment incentives might help, but adapting to the changing economy is tough.
is urging the government to act. The NCVO and charity leaders body ACEVO have written a joint letter to the Chancellor setting out their concerns.
In the letter they advise that “our sector will have less flexibility than ever before to absorb these increasing costs Many of us will have to make difficult choices in the coming months as a result. The harsh reality is that many organisations may be forced to reduce staff, cut salaries, and most importantly, scale back services for the very people they
Measure
Employers’ NICs
Employment Allowance
Capital Gains Tax
Doubled to £10,500 All businesses eligible
Lower rate: 10% to 18%, Higher rate: 20% to 24%
£25bn raised by end of parliament
Benefits 1 million small businesses
Increased tax on investments
Business Property Relief Partially retained Supports AIM-listed companies
Spring Statement
At the time of writing, the chancellor will give an update on her plans for the UK economy when she gives a statement alongside an economic forecast on 26th March 2025
Events attended include:
Social Care Summit Manchester - 13th Feb 2025
NACFB Funding Future Growth, RSA House, London - 12th March 2025
Housing Finance Conference, Liverpool19th March 2025
Mortgage Business Expo, Manchester - 28th March 2025
Future events include:
Care Show London - 30th April 2025
Social Housing Finance Summit London14th May 2025
UKREiiF Leeds - 20th May 2025
NACFB Expo NEC Birmingham - 11th June
2025
Housing 2025 Manchester - 24th June
2025
Giving money meaning We call it
Open a Reliance Bank Business & Charity Current Account and the money you deposit with us contributes to providing funding to organisations delivering positive social impact in the UK
Reliance Bank’s funding helped:
2,900 People with community centres and facilities
2,100 Reduce hunger for people
443
People receive personal learning and development opportunities
Our customer’s deposits are used to provide funding to organisations like food banks that reduce hunger for people living in poverty And our funding is used by community centres that allow young people who feel abandoned by society, by school, by family, the opportunity to feel cared for and included.
Fixed Term Deposit or Notice Savings Accounts if you can put the money aside for a period of time
Instant Access if you need to access your money
Reliance Bank has been at the forefront of socially responsible banking since 1890 when we were formed as the bank for The Salvation Army
As a Bank, we’ve supported businesses and charities for over 135 years and we prioritise business lending to organisations that deliver positive social impact in the UK, so you’ll be joining a group of like-minded people
