The 5.5 year bond will pay investors 5.25% gross interest per year, with a minimum investment of £100. It is also available within the tax-efficient Innovative Finance ISA (IFISA) wrapper. As with all investments, interest payments and return of capital are not guaranteed and like all ISAs, the IFISA is subject to eligibility criteria.
Thera Trust provides essential care, support and services for over 3,000 people with a learning disability, enabling them to live the life they choose. Its critical work has continued throughout lockdown with the charity’s staff delivering tailored one-to-one support to its beneficiaries during the Covid-19 crisis.
The charity has a strong 22-year history, where it has grown from supporting five people in Cambridgeshire in 1998 to now providing a range of care, support and services across the UK. It has an annual income of over £72 million and works in partnership with 80 local authorities across the country. Many of the people that Thera supports have complex needs or originally lived in institutional settings before being supported by the charity.
A key part of Thera Trust’s strategy is to provide individually tailored accommodation to people with a learning disability over the next five years, through freehold property purchases and long-term leases.
The new bond will play an essential role in helping the charity to deliver this strategy by purchasing around 10 additional properties, as well as providing some working capital. The properties will be adapted by Thera to enable people that they support to live in their own home in an environment which meets their needs.
Simon Conway, joint director of strategy at Thera Trust, said: “The demand for our work, including provision of specially adapted property for people with more complex support needs, continues to be high. We are therefore planning for further investment in additional freehold properties for individuals with a learning disability, which we know, both from independent research and our own experience, has a substantial positive impact in their lives.”
Steven, who lives in one of Thera Trust’s properties, commented: “I visited the house a few times before I moved in and Thera’s staff talked with me and my parents about everything that was going on. Before I decided to move in, I had to think about living on my own because I had not done this before. I really like the house and it is close to my family home. I share my house with Tim and David. I have a nice room that looks out on to my garden.”
This is the third time that Triodos Bank UK has partnered with Thera Trust to raise capital through a bond. Since 2015, the charity has increased the number of people for whom it has provided a house from 48 to 166 individuals, thanks in part to the support of its crowdfunding investors.
Dan Hird, Head of Corporate Finance at Triodos Bank UK, added: “Our experience shows that more and more of us are looking for ways that we can contribute to building a fairer society and this is even more important as we emerge from the Covid-19 crisis. This bond offer allows ordinary investors to support a fantastic charity in Thera Trust, who are helping more people with a learning disability live more independently; while also earning a tax-free financial return on their investment.”
Thera Trust’s vision is that people with a learning disability can be leaders in society. It seeks to demonstrate this through its work – placing people with a learning disability at the centre of everything it does. For example, the Thera group has roles for 13 paid and 14 voluntary directors with a learning disability.
Investments offered on the Triodos crowdfunding platform are not readily realisable, which means that they may be difficult to sell, and you may not get back the full amount invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and your capital is at risk and returns are not guaranteed. Repayment of capital and interest will be dependent on the success of the organisation's business model and past performance isn’t a reliable indicator of future performance. You should always read the offer document in full before deciding whether to invest as it will cover risks specific to an individual investment. You can read more about the general risks associated with making these types of investments here. If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.
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Notes to editor
About Thera Trust
Thera is a charitable group of companies which support people with a learning disability with a diverse range of needs. Thera Trust is the parent of Thera Group and provides strategic, cultural and governance leadership to the group as well as business and admin support from its office in Grantham.
Thera was first set up in 1998. It has grown from supporting five people in Cambridgeshire to providing a range of support across the UK for over 3,000 people with a learning disability.
About Triodos Bank
Founded in 1980, Triodos Bank has become a frontrunner in sustainable banking globally. As an independent bank that promotes responsible and transparent banking, it does not see any conflict between a focus on people and the planet and a good financial return. Instead it believes that they reinforce each other in the long-term.
Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain and Germany as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values (GABV), a network of 54 sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.
Triodos Bank UK Ltd is a wholly owned subsidiary of Triodos Bank NV. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales Company No. 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008. VAT reg no 793493383.
This financial promotion has been issued and approved by Triodos Bank UK Limited for the purposes of section 21 of the Financial Services and Markets Act 2000. Triodos Bank UK Ltd. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales with registered number 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008. Details about the extent of our regulation by the Financial Conduct Authority and Prudential Regulation Authority are available from us on request.