27 November 2024: £150m and £4m initiatives will drive inclusive growth across UK, unlocking finance for underserved small businesses through community development finance institutions Double boost for small business finance: pivotal programmes to empower small businesses… Continue reading
Category: News
New backing for CDFIs will enable more businesses to grow
Capability and capacity building programme announced, backed by Lloyds and the Department for Culture, Media and Sport (DCMS) MP visits Yorkshire entrepreneurs growing businesses with CDFI funding 14 November 2024: More businesses will be able to… Continue reading
Lloyds Banking Group MD joins Responsible Finance board to help build more partnerships between major banks and community lenders
Responsible Finance, which represents the UK’s £287m community development finance institution sector, has appointed Chris Sood-Nicholls of Lloyds Banking Group to our board as a non-executive director. Sood-Nicholls is Managing Director, Regional Development at Lloyds Banking… Continue reading
Michael Sheen joins calls for a Fair Banking Act to tackle credit crisis affecting people and businesses
23 October 2024: Actor and debt campaigner Michael Sheen has joined calls for the government to pass legislation to help tackle the crisis of unaffordable credit and problem debt in the UK. In 2022-2023, more than… Continue reading
Fair Banking Act could unlock more than £3bn of affordable credit for people and businesses across UK
12 September 2024: Government can unlock billions in affordable credit for UK businesses and people on low-incomes New analysis shows that the government could unlock more than £3bn of affordable credit for people and businesses across… Continue reading
Record year of community development finance to people and enterprises across UK
20th May 2024: New figures reveal 14% jump to £287m lent to under-served businesses, social enterprises and households in 2023, creating 6,571 jobs and 3,829 enterprises and saving people £29m in interest. The UK’s not-for-profit, ‘community development’… Continue reading
New £62m fund for small business lending is backed by Lloyds Bank in milestone for CDFI sector
4th March 2024: Lloyds Bank is the lead investor in the new, £62m Community Investment Enterprise Fund (CIEF), launched to help small businesses across England and Wales access finance to support local jobs and economic activity. CIEF… Continue reading
Better and cheaper than expensive loans or illegal money lenders, what are community lenders?
When the unexpected happens and we need a little bit to tide us over, community lenders put your wellbeing first. Getting a loan isn’t always easy – especially if it’s only for a small amount, or… Continue reading
Tender for an Evaluation of First Loss Funding to CDFIs
23 October 2023: Responsible Finance has received funding from City Bridge Foundation to pilot a London-based risk cover or “first loss” fund pilot with three consumer-lending community development finance institutions (CDFIs). Three participating CDFIs (Fair Finance,… Continue reading
More Londoners to avoid high-cost lenders thanks to support for community lenders
16 October 2023: More than 10,000 Londoners will be able to avoid high-cost credit or illegal lenders, and save hundreds of pounds in interest on vital small loans, thanks to new funding from City Bridge Foundation.… Continue reading