Special lending rate for Food for Life Catering Mark recipients

Triodos Bank has ring-fenced £5 million which it will lend at a 1% discounted rate to restaurants and caterers who have been awarded the Soil Association's gold or silver Food for Life Catering Mark. If successful, the new initiative could support around 70 businesses and help to increase the number of caterers meeting the highest sustainable food standards. If caterers take advantage of the full £5 million offered at the discounted rate, they could save a total of £50,000 each year, and potentially £900,000 over 25 years. Ian Price, manager of Triodos' Farming, Food and Trade Team said: "There's a huge environmental imperative to move to more sustainable procurement across the whole of the food chain, matched by growing public appetite for local and organic food. We hope our new initiative will provide an extra incentive to restaurants and caterers to go for the gold Food for Life Catering Mark and provide more of the good food people are crying out for." Mike Bond, catering mark manager at the Soil Association said: "The Food for Life Catering Mark gives people an independent guarantee that their food is fresh, free from controversial additives and better for animal welfare. Triodos stands out among banks as one that really puts its money where its mouth is, and we hope this initiative will provide support for caterers to move towards even higher standards of sustainability." The offer is open to new borrowing customers that meet Triodos Bank's lending criteria and gain the Food for Life Catering Mark's gold and silver award. Minimum lending is £25,000 and businesses will be assessed on their financial performance as well as their social and environmental impact.