12 July 2019
Following the success of its 2019 Community Share Offer, ART Business Loans (ART) has just opened a 2020 Community Share Offer.
Individuals and companies can invest between £500 and £100,000 and their investment will be eligible for Community Investment Tax Relief (CITR). The offer is open until 24 March 2020 and shares can be purchased through the Ethex social investment platform.
ART is aiming to raise an additional £500,000 though its 2020 Community Share Offer, which will be used to support the West Midlands economy through loans to viable business and social enterprises unable to access the finance they need from the banks.
Dr Steve Walker (pictured), chief executive of ART Business Loans explains: “Our aim is to help West Midlands based businesses and social enterprises survive challenging trading conditions, thrive and grow, which means they are also able to protect and create jobs.
“In addition to knowing their money is being put to good use in this way, investors will also be eligible for a financial return in the form of tax relief.”
CITR offers tax relief at five per cent per annum of the sum invested over five years as a deduction off an investor's UK Income Tax or Corporation Tax liability.
After five years shares may either be withdrawn or reinvested in ART.
You can find out more about how CITR works at www.gov.uk/government/publications/community-investment-tax-relief-citr
For more information about ART Business Loans’ 2020 Community Share Offer and to buy shares visit: www.ethex.org.uk/ART2020.