The planetary emergency needs sure footed action over the next decade after years of negative human influence. Despite the ongoing challenges of Covid-19, over half of the UK’s small and medium sized enterprises (SMEs) see this… Continue reading
Category: Opinion
Ethical lenders and the cost of credit
It is well documented that being poor costs more. When people who are less well off or have fluctuating incomes need credit for sudden expenses, many lenders see an opportunity to make a lot of money.… Continue reading
Governments recognising vital role of CDFIs
This week the US Congress approved $12 billion in funding for Community Development Financial Institutions (CDFIs) and Minority Designated Institutions (MDIs) as part of a $900 billion COVID-19 emergency stimulus funding package. The funding will expand… Continue reading
Three steps for a locally-powered recovery
Last week’s news of 25,000 jobs at risk after Debenhams and Arcadia Group fell into administration caused a collective gasp. Along with heartbreak over the loss of these jobs, many fear for the future existence of… Continue reading
Time to Stop Pay-Day Loan Firms Cashing in on the Pandemic
9.7 million households across the UK reported a fall in income by the end of July 2020 as a direct consequence of the pandemic. Nearly one in six households – 16% – were struggling to make… Continue reading
Post CBILS Guarantee: The Government Should Act Now to Ensure Businesses can Access Finance After 30 November
Community Development Finance Institutions (CDFIs) have been working tirelessly to support SMEs whose businesses have been disrupted by the COVID-19 outbreak. In April they stepped up their lending by 250% compared to the same period in… Continue reading
Tomorrow’s Summer Statement Should Commit to Investing in CDFIs to Prevent Unemployment and Stimulate Job Creation in SMEs which Fall Between the Cracks
CDFIs prevent and reduce unemployment by supporting businesses, fostering inclusive growth, boosting productivity and facilitating enterprise creation. They are key strategic partners for the Government and the British Business Bank, and the sector needs urgent access… Continue reading
The Government should end the delay in granting alternative lenders access to Bank of England funds
The UK’s non-bank lenders and the Government are continuing to discuss access to cheap funding from the Bank of England. It is clear that without this, non-bank lenders and the diversity they bring to the SME… Continue reading
With the right support from government this period of financial vulnerability for households can be temporary
More work is needed to enable the resilience of a large part of society. Delivering hardship funds through the responsible finance sector will help do just that. Continue reading
Local lenders could address £100m funding gap through better CBILS
Theodora Hadjimichael, Responsible Finance CEO, on how our inclusive members can make CBILS reach parts of the economy otherwise excluded The Coronavirus Business Interruption Loan (CBIL) Scheme continues to draw the opprobrium of some commentators, with… Continue reading