The Jericho Foundation has now repaid the money provided in 2012 through funds managed by Finance Birmingham on behalf of Birmingham City Council. The backing enabled Jericho to create 24 jobs in its core staff team and the firm now employs 70 people. Also as a direct result of the finance and additional staff, 218 previously unemployed people have been hired by Jericho on paid supported work placements or apprenticeships lasting between six and 24 months.
Richard Beard, Jericho Chief Executive said, “The Finance Birmingham and Birmingham City Council assistance came at a crucial point in the Foundation’s development. The loan helped us to significantly scale up some of our social enterprises, create local jobs and provide training and employment opportunities to even more people in real need.”
The funding was originally provided by Birmingham City Council’s £10m Business Loan Fund, managed by Finance Birmingham. More recently Finance Birmingham has been working closely with several Councils and Local Enterprise Partnerships to support SMEs across the UK.
Clive Broadhurst, Portfolio Director at Finance Birmingham, said: “As a unique public-private partnership, Finance Birmingham helps small to medium sized businesses to realise their ambitions for growth. We are delighted that with our support The Jericho Foundation has made such a material difference to the skill base and employment prospects of disadvantaged people across a number of sectors so critical to the growth of the Midlands region.”
The Jericho Foundation is a charity which breaks down barriers in society and supports disadvantaged people to become fulfilled, skilled and employed. Jericho works with a broad variety of deprived people who are struggling, including young people, ex-offenders, homeless people and survivors of modern slavery. They provide work experience or paid employment in their eco-friendly social enterprises. Alongside this, Jericho delivers a holistic package of support, guidance and training which is tailored to each client’s personal needs.
To find out more, please visit http://jericho.org.uk
* (caption) Jericho Foundation’s Client Support Manager, Patrick Masih, Chief Executive, Richard Beard and Finance Birmingham’s Portfolio Director, Clive Broadhurst
For further information on this press release contact Roger Bauckham, Development Director, Roger.Bauckham@jericho.org.uk, 0121 647 1960