Santander partners Crowdfunder to back UK community projects

Santander partners Crowdfunder to back UK community projects

In a UK first, Santander has teamed up with a crowdfunding platform, promising to match pledges given to social enterprises and community projects.

Social enterprises, small charities and community groups that pitch projects on the Crowdfunder site will have the chance to dip into Santander's £200,000 pot.

Projects looking to raise up to £20,000 to help disadvantaged people in the UK and focussed on skills, knowledge and innovation will receive 50% of their funding from Santander if they get the crowd's backing for the other 50%.

Sue Douthwaite, MD, Santander Business Banking, says: "Our purpose is to help people and businesses prosper and we recognise the important role social enterprises and charities play in helping communities to thrive."

This is not the first time that Santander has allied itself with the alternative finance world. The bank has also teamed up with Funding Circle, referring small business customers to the P2P lender.

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