Charity lands bank deal after ‘significant financial challenges’
A Birmingham based charity is continuing to provide essential care and support to people with acute neurological motor disorders during the COVID-19 outbreak, after securing support from Lloyds Bank.
The Foundation for Conductive Education in Edgbaston faced “significant financial challenges” due to the COVID-19 outbreak, with the cancellation of charity events and the loss of adult fee income due to closure having an immediate impact on the funding strategy.
Recognising the impact that the coronavirus pandemic was having on income and donations, David Wood, chair of Trustees at The Foundation for Conductive Education contacted Lloyds Bank, the charity’s banking partner of more than 25 years, for support.
Within 48 hours of applying, a funding support package was approved, with an increased overdraft facility of up to £300,000, together with a loan repayment holiday for the next six months. This has enabled the charity to keep supporting its beneficiaries and their families, whilst also being able to manage the cashflow during this difficult time and start the process of working to rebuild the charity going forward.
The centre, which uses groundbreaking conductive education techniques as a rehabilitation tool to help people with neurological movement disorders such as cerebral palsy, Parkinson’s, stroke and multiple sclerosis, is now using video conferencing to deliver its structured teaching and learning programmes to its children and adults. This includes bespoke individual and group support exercises such as home schooling and academic resources for children, and practical support packages for its adult service users.
Wood said: “Living with a motor disorder can be challenging for individuals and their families, and the information, learnings and practical care that our charity provides is a real lifeline.
“The support we’ve received from Lloyds Bank has been outstanding. At a time when people are already feeling cut-off because of the lockdown, we desperately needed this support to allow us to keep up the crucial service we provide to our families”
Tony Hanley, relationship manager at Lloyds Bank said: “The care that the Foundation for Conductive Education provides is exceptional, and it needs extra support during these unprecedented times to allow it to keep helping those in its care.”