CAF Bank

CAF Bank helps Snowdrop Project secure new office with £380,000 loan

CAF Bank has provided a £380,000 loan for Snowdrop Project, a Sheffield-based charity dedicated to providing long-term support to empower survivors of human trafficking.

The funding was used for the purchase of a Grade II-listed office split over five floors, originally built as a police station, as the charity wanted to buy its own premises for the first time and move out of their rented space.

The property — located adjacent to South Yorkshire Police Headquarters and the Magistrates Court — is now used by the charity to conduct their work.

It offers office space, rooms for private therapy, casework and legal assistance, community rooms for activities, a crèche providing extra support for their clients, as well as flexible space to accommodate a range of activities, from trustee meetings to dance therapy sessions.

The loan was agreed at 61% LTV on a 20-year term.

“CAF Bank was the organisation I was most interested in working with, partly because of its charitable nature,” said Lara Bundock, founder and CEO of Snowdrop Project.

"Huge amounts of effort went in to understanding who we were and what we needed. 

“We discussed in depth possible scenarios, such as if we lost a major funder and how we would plan for that, which was a fantastic exercise that made me feel confident that we could handle any eventuality. 

I really didn’t expect CAF Bank to continue being so interested and invested in us after the loan provision — it’s become a really valuable working relationship.” 

Sean Taylor, senior relationship director at CAF Bank, commented: “We were impressed by how dedicated Lara and the team at Snowdrop are to providing long-term support for their clients.

“I’m really pleased that they now own their own property and can provide that much needed security for their clients. 

“We look forward to building on this existing relationship and seeing the charity grow.”

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