08 April 2021
The Minister for Treasury and Resources, Deputy Susie Pinel, has welcomed the repayment of a £250,000 loan by the Jersey Society for the Prevention of Cruelty against Animals (JSPCA). The charity is repaying the loan three months earlier than scheduled.
In December 2018, the JSPCA requested an 18-month loan of £500,000 to enable it to stabilise its financial position, by re-financing existing debts and reduce its borrowing.
Despite the challenges presented by COVID-19, the JSPCA met all of its interest payments and repaid 50% of the loan in June 2020. At that time the Minister agreed to extend the loan term for a further 12 months, to 20 June 2021.
The remaining £250,000 has now been repaid, three months ahead of schedule.
Minister for Treasury and Resources, Deputy Susie Pinel, said: “I was delighted to be able to assist the JSPCA when they approached me in 2018.
“I’m pleased to have been able to play a part in stabilising the Society’s finances. Over the last two-and-a-half years, the new executive has demonstrated sound financial management, and continued to provide a vital service throughout the pandemic.”
Debra D’Orleans, the JSPCA’s Chief Executive Officer, said “The Society is very grateful for the support provided by the States at what was a very difficult time, and also for the Minister’s understanding in extending the loan term at the height of the uncertainty caused by the pandemic.
“With the aid of the loan we’ve been able to continue to achieve our key priorities of preventing cruelty, educating Islanders and providing shelter for abandoned animals.”