A city charity has grown its team by more than 20 staff and helped hundreds of others find work following a £200,000 investment from Finance Birmingham.
The Jericho Foundation received the capital in 2012 since when it has created 24 jobs in its core staff team, growing it to 70 people.
A further 218 people, who were previously unemployed, have been hired by Jericho on paid supported work placements or apprenticeships lasting between six months and two years.
The Balsall Heath-based charity has also repaid the money back to Finance Birmingham.
Jericho Foundation aims to break down barriers in society and support disadvantaged people to become skilled and employed, working with a broad variety of deprived people who are struggling such as ex-offenders and the homeless.
Chief executive Richard Beard 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 £10 million Business Loan Fund, managed by Finance Birmingham.
Clive Broadhurst, portfolio director at Finance Birmingham, added: “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, 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.”
