Money “makes the world go around.” Without fit-for-purpose finance on fair terms, businesses can’t grow and create jobs, social enterprises are unable to deliver vital frontline services, and millions of households are prey for loan sharks.
Community Development Finance Institutions (CDFIs, community lenders) advanced more than £228m in UK communities in 2021, a 32% increase on the year before. A catalyst, a lifeline, a lever: their lending had profound, positive impact boosting small businesses, social impact and household resilience.
Our 2022 Impact Report gives a comprehensive insight into CDFIs’ work and the unique effects of fair, affordable finance from our members in 2021. The businesses, social enterprises and jobs we created and grew. The millions of pounds we helped households save in interest. The inequalities we fought.
It covers our purpose-driven members’ social, environmental and economic impacts, and maps how this work contributes to the UN Sustainable Development Goals, today, all over the UK.
People, social entrepreneurs and business leaders tell their stories of the difference CDFIs make in their lives, and we urge banks, regulators, tech firms, housing associations, local authorities and other stakeholders to take specific actions so more stories can be heard in the future.
Read a summary of the report by downloading a copy here.
Read the full 38-page report now by downloading a copy here.
See previous editions and Responsible Finance’s other publications.