Birmingham Supported Living (2010) provides accommodation and support for people who suffer from mental health issues, learning disabilities, physical conditions, autism and asperges. Its mission is to provide homes that are safe and supported and to provide care that enhances the quality of life for residents, who are generally seeking long term homes and support.
The investment that we received from Big Issue Invest has enabled our organisation to achieve its Mission, Values and Vision. We have created a beautiful home for our residents, and we are now in the process of creating a Hub in our grounds. The hub is the idea of our residents committee and will be a space that can be turned into a facility that can provide activities daily to enhance the wellbeing of all our residents across all our projects
Challenge
BSL recognise that vulnerable adults often want to live independently but account that they may need some support, especially if they’re struggling with their mental/physical health, a learning difficulty or managing their home environment. BSL leases the majority of its properties, but were looking for more security. When the opportunity to purchase a previous hotel in the perfect location next door to one of their current sites arose, it was too good to miss. However, their CEO, Ann Martin, was able to get a loan from traditional banks without personal guarantees.
Solution
BSL approached Big Issue and Charity Bank, who were happy to help. BII agreed a £220,000 facility in December 2021 secured on a Pari Passu (equal) basis, behind Charity Bank's first ranking. The BII facility of £220k alongside £410k via Charity Bank and £27k own reserves would meet the purchase (£630k), refurbishment (£17k) and acquisition costs (10k).
Revenue
Trading via a mix of;
• Housing Benefit paid directly to BSL.
• Care Income: Current care packages vary from 5 hours up to 25 hours per week.
• Client Contribution Income: contribution paid directly by residents towards utility costs and additional care requirements.
Impact
BSL 2010 exists to provide ‘homes’ that are safe, supported and care that truly enhances the quality of life for each and everyone of its residents.
The old hotel building has been refurbished and provides 11 ensuite rooms, a communal dining room, a living room, a kitchen and a laundry room. There’s always a member of staff on 24/7 to keep residents safe and offer them support when needed.
Acquiring the building has meant that while some residents may choose to stay long-term, others can use the experience to boost their confidence skills and seek to live independently alone.
Buying the property has benefited BSL as the loan repayments are significantly lower than the rental costs for similar properties.
Big Issue is proud to have supported Birmingham Supported Living (2010) limited alongside Charity Bank in providing a package of finance to allow its expansion of its portfolio to offer more valuable space for to support more people requiring its support.