Indigo Junction has been a Beyond Bank community partner for more than three years. The organisation, which works to provide resources and accommodation for those experiencing homelessness and hardship, is based in the north east metropolitan area of Perth.
Indigo Junction’s relationship with Beyond Bank was initially cultivated by Kylie Daniels and Rebekah Worthington, who worked with them as Community Development Managers.
The relationship transformed when the organisation was “looking for a business banking partnership that aligns with our values”, according to CEO Sharon Gough.
The need for this business banking relationship was to help fund a Youth Crisis and Transitional Housing project valued at $17.7 million in the Perth suburb of Midland.
The project aimed to establish 36 transitional housing options for young people experiencing homelessness or escaping domestic and family violence.
Indigo Junction worked closely with Beyond Bank team members, with Rebekah introducing them to Business Banking Manager Craig Maguire who identified their needs and how to get the best outcomes, especially given this was one of the first Beyond Bank loans of its kind for a not-for-profit.
Indigo Junction borrowed $2 million to finish the project, which will create great outcomes for the Perth community and allow Indigo Junction to continue its work.
While a thorough process was required to finalise the loan, Craig said it was smooth and built on trust.
“There’s complexity and red tape when lending to not-for-profits. We need to make sure there’s comfort around the ability to pay – from their funding sources, grants, people they support through renting, to clients as well,” he said.
Craig built a deep understanding of Indigo Junction and, through open communication and collaboration, delivered a loan solution that met their needs while meeting Beyond Bank’s serviceability criteria.
To show appreciation for Craig’s work, Indigo Junction presented him with a letter of appreciation.
“Beyond Bank was the right choice for Indigo Junction as a business banking partner. The streamlined service and community support was really appealing,” said Sharon.
