Millfields Trust refinances with NatWest, cutting ties to council safety net

What's the deal? Millfields TrustDealroom has a profile for this one. Try Dealroom →, the social enterprise regenerating Stonehouse in Plymouth, has secured an undisclosed debt refinancing from NatWestDealroom has a profile for this one. Try Dealroom →. The loan is secured against the trust's £5m Genesis building on Union Street.

Why now? The refinancing replaces the trust's previous borrowing on more favourable commercial terms. A council bridging loan runs until March 2027, giving Millfields Trust time to arrange the new borrowing and avoid financial difficulty.

The signal: The refinancing gives the trust greater financial flexibility to support businesses, charities and regeneration in Stonehouse and neighbouring Devonport, while removing a recurring drain on council funds.

Image credit: Social Enterprise UK

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