January 2022, United Kingdom
GLAS is proud to work as Facility Agent and Security Agent on the £21.5m round of funding raised by Social Investment Business (SIB) for the Recovery Loan Fund. Managed by SIB, the Recovery Loan Fund helps charities and social enterprises who have been impacted by Covid-19 access the capital they need to help them recover, adapt and grow.
GLAS is working alongside Weil, Gotshal & Manges LLP which acted as legal counsel on the investment round and Linklaters LLP which acted as legal counsel to lenders such as The Church of England, Fusion21 Foundation and Big Society Capital.
Through this role, GLAS has the opportunity to work with capable partners on a transaction that will allow small businesses impacted by the pandemic continue to serve their communities.
“We are delighted to act as Facility Agent and Security Agent in this latest round of funding for the Recovery Loan Fund,” said Deion Fox, Head of Business Development (EMEA) at GLAS. “We have seen the impact that Social Investment Business has had and can have on those entities and individuals that have been severely impacted by the pandemic and are grateful to be involved in such a positive scheme.”
For more information about the Recovery Loan Fund and SIB, visit their website.