Jericho Foundation Creates Local Jobs and Helps Hundreds of Unemployed Get Back to Work
A £200,000 investment has seen a Birmingham-based charity expand its team and help hundreds of previously unemployed people find jobs.
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. Their affordable 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 provided by Birmingham City Council’s Business Loan Fund, managed by Finance Birmingham. The £10million initiative offers a range of funding support to small and medium businesses (SMEs) based in Birmingham.
Clive Broadhurst, Investment Director at Finance Birmingham, said: “After seeing the work that The Jericho Foundation had delivered in the past we knew how much potential it had to grow and make even an even greater difference. Since securing the investment we’ve seen the business thrive and it’s a real testament to its team and the people that are driving the business forward.”
The Jericho Foundation is a charity which breaks down barriers in society and supports disadvantaged people to become fulfilled, skilled and employed. Jericho work 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 deliver 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