IMPACT THEME: Housing & Homelessness; Education & Learning
WHAT THEY DO: Economic, social and civic integration of refugees
YEAR FOUNDED: 2008
INVESTMENT AMOUNT: £500,000
INVESTMENT SOURCE: Resonance Angel Investor Network
INVESTMENT PURPOSE: To provide capital for the purchase of three houses to accommodate more people and move from leasehold to freehold model through the UK’s first Yield Sharing Finance (social investment that is Sharia compliant).
DEAL STRUCTURE: 5 year debenture loan (6% total cost pa)
STRENGTHENING: We helped ACH win a £60,000 grant with our value of support totalling £24,500
Each year ACH receive over 300 people exiting UK asylum centres with refugee status who would otherwise find themselves homeless. ACH places them into the organisation’s high-quality housing. Many who come are traumatised and have no real understanding of life in the UK. With a secure roof over their heads and time to acclimatise, ACH progress the people they help through a highly successful programme of training in UK culture, healthcare, language and work skills. Successful ‘move-ons’ are people settling into new homes, gaining jobs or going on to further and higher education, plus a simple outcome: family reunions. And key to the success of this unique organisation with roots in Bristol and growing in Birmingham and Wolverhampton, is that ACH is run by people many of whom were once themselves refugees.
ACH’s Richard Thickpenny said: “ACH and Resonance created the Yield Sharing Investment Model. It can comply with Islamic Law whilst providing a return to investors who come from many faiths or none. It creates a balance, wherein the power between an investor and investee becomes co-operative instead of potentially exploitative. The investors benefit as their investment is directly tied to the success of the investee’s mission, yielding a financial return on a fair and equal basis.”
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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