As of 30th August 2020, CDFIs have approved £38.9 million of CBILS-backed loans for 518 small businesses and microenterprises.
News
Turning £30m into £89m for under-served businesses, CDFIs can help Build Back Better
The RF Fund was established in 2012 with two key objectives: to capitalise community development finance institutions (CDFIs) so they could lever further investment and scale up their economic and social impact; and to grow and support private-sector jobs and economic prosperity in places dependent on the public sector following the 2008 financial crisis. This Impact Report demonstrates it has achieved both objectives and exceeded the Government’s ambitious targets for businesses and jobs supported, while also unlocking millions of pounds of further private capital. Continue reading
Leicester Mercury / Leicestershire Live: recording studio boss Yasin is best in Britain
There’s a super profile of Yasin El Ashrafi, founder of a recording studio and music education business who was expelled from school at 15, spent 9 years “getting high” then turned his life around and launched… Continue reading
Affordable Credit in Covid-19: How Street UK helps households avoid exploitative lenders
How Street UK adapted to serve low-income households during Covid-19 Continue reading
Affordable Credit in Covid-19: How Scotcash helped customers save thousands of pounds
It’s always been clear to Sharon MacPherson, chief executive of Scotcash, that her customers are careful with money. “They might be excluded from mainstream financial services, but they’re exceptional at managing their budgets.” So when Covid-19 struck how did it affect customers – and what was the impact on Scotcash’s products and services? Continue reading
Exceptional businesses and finance providers win Citi Microentrepreneurship Awards 2020
Four firms awarded £7,500 prizes in microentrepreneurship awards celebrating their success and support from responsible finance providers A business launched to make the world accessible to disabled travelers, a plastic-free zero waste store which has revitalised… Continue reading
CBILS Update – 6th July
As of 6th July 2020, Responsible Finance can confirm that our members have approved £24.6 million of loans for 394 small businesses and microenterprises through the Coronavirus Business Interruption Loan Scheme.
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
CBILS Update – 22nd June
As of 22nd June 2020, Responsible Finance can confirm that our members have approved £23 million of loans for 377 small businesses and microenterprises through the Coronavirus Business Interruption Loan Scheme.
CBILS Update – 8th June
As of 8th June 2020, Responsible Finance can confirm that our members have approved £20.8 million of loans for 356 small businesses and microenterprises through the Coronavirus Business Interruption Loan Scheme.