Skip to main content

Money has the power to change lives for the better

The case study below demonstrates how money has the power to change lives for the better:

Background
An NACFB member broker provided Reliance Bank with a lead which came from a Nepalese Community charity.

The charity named Tamu Samaj UK were seeking to purchase a property to provide social events, English speaking classes and other educational and humanitarian services to the local Nepalese community.

Solution
Paul – the Reliance Bank Relationship Manager was referred this case on a Wednesday and issued a facility letter to the customer on the following Tuesday subject to the suitability of the property which had yet to be agreed.

Tamu Samaj UK provided validation that their membership fee income will cover the repayments of the loan and allow them to afford the bills and expenses to continue their extensive cultural programme which includes English speaking classes for the charity members and their families.

Reliance Bank were satisfied that the loan repayments could be funded and that the charity could afford the refurbishments required to adapt the proposed property in order to provide catering facilities for cultural events.

Impact
Reliance Bank agreed a commercial loan. This proposed funding would enable Tamu Samaj UK to buy the property and provide a function space with a capacity to hold 60 people.

The commercial loan was deemed to be affordable and would enable the provision of a safe and valuable facility for a community who are currently lacking resources.

This commercial loan would enable the Tamu Samaj UK members and their families to attend cultural events, such as festivals of dance, music, and food as well as engage in humanitarian, social and educational activities. This gives a sense of permanence for future generations to embed them in the community.

Shivakumar Gurung Vice president of Tamu Samaj UK said: “Tamu Samaj UK purchased a house which will be a crucial resource to achieve our charity organisation’s short- and long-term goals. We were able to acquire this property with a loan provided by the Reliance Bank so we are very grateful for their financial support.”

We are proud to be the bank of The Salvation Army International. Find out more about our shared history.

Reliance Bank Limited,
Faith House,
23 - 24 Lovat Lane,
London,
EC3R 8EB

Please be aware of fraudulent websites purporting to be our website. Please do not enter any details or make contact with anyone relating to those websites.

For security, please ensure that you are always on this domain www.reliancebankltd.com or ibank.reliancebankltd.com when using our banking services.

If you suspect that you are on a 'fake' domain, please contact Reliance Bank on 020 7398 5400 .

Reliance Bank Limited. All rights reserved. Registered in England. Registration no. 68835.

Reliance Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Financial Services Register number 204537. Member of the Financial Services Compensation Scheme (FSCS)

Our website uses cookies and by using this site you are consenting to this. To find out more read our cookie policy

Top