Today’s i newspaper highlighted community development finance institutions, “social enterprises which provide credit to those who find it hard to access finance from mainstream lenders.” The article drew on data in our annual report – our… Continue reading
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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
Levelling Up Our Communities: Response to Danny Kruger MP’s Report
‘To build back better’ we need a new economic and social model to replace the one that preceded the crisis. Because before the crisis hit, our communities were in trouble.’ Responsible Finance welcomes Danny Kruger MP’s… Continue reading
Coronavirus Business Interruption Loan Scheme Update – 30th August
As of 30th August 2020, CDFIs have approved £38.9 million of CBILS-backed loans for 518 small businesses and microenterprises.
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.