OakNorth Bank is advancing £5 million to enable Side by Side, a special needs school and integrated nursery catering for the Jewish community, to complete its building work while its fundraising continues apace.
Side by Side’s new school premises is scheduled to open for pupils in September next year, with an increased capacity from 80 to 130 and new facilities designed to meet the specific needs of each child. The school caters to children from across London with range of special needs and offers specially designed programmes customised to each level and ability.
The new £11 million school project has raised more than half the required funds locally and the building work is continuing as funds come in.
Jacob Sorotzkin, chair of governors at Side by Side said: “The generosity of our community is astounding, and we are immeasurably grateful to those individuals who have secured this facility from OakNorth Bank. Our building work continues, our fundraising efforts continue, but OakNorth’s advance will ensure that we will meet our target and open as planned next year.”
Ben Barbanel, head of debt finance and Greg Manson, associate director of debt finance at OakNorth Bank, said in a statement: “Side by Side has self-funded its growth extremely well, through charitable events and fundraising activities but cash flow for the building works is imperative. We at OakNorth Bank are truly proud to have been able to provide the necessary finance and we look forward to becoming partners with the wonderful Side by Side team.”
Date published: 9 June 2021