Wonderful local businesses and social enterprises are the vital spark in their communities. They’re the heart of their villages, towns and cities – innovating, building potential, employing people, creating opportunities. A new podcast by our member,… Continue reading
News
Double boost for small business finance: £150m and £4m initiatives will drive inclusive growth across UK
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
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
The Role of First Loss Funding in Financial Inclusion and Economic Growth
Last October, Responsible Finance launched a pilot to explore first-loss funding’s potential to crowd-in private investment to personal lending CDFIs to help them scale their lending and support financial inclusion. We are monitoring the work closely… 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
“If the challenge is growth, investment is the solution.”
CDFIs want to work with the Government to enable this. The Chancellor of the Exchequer has vowed to lead the most pro-growth Treasury in our country’s history. She has rightly recognised that this means working with… 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
Podcast: NatWest Group and CDFIs with Brian Holland and Stuart Foster
Why did NatWest Group choose to work with community development finance institutions (CDFIs) as part of its cost-of-living support package? What can be done to signpost CDFIs to bank customers who are financially vulnerable? How do… 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