Building a better future. Personal lending report 2021.
£36 million lent in 42,000 loans to 31,000 customers. £11 million in interest repayments saved compared to high-cost credit.
About the report, Theodora Hadjimichael, Chief Executive of Responsible Finance said:
“Saving someone on a low income hundreds of pounds a year in interest, or protecting their credit rating, puts money back in their pocket and sets them up to thrive. That’s vital for their health, wellbeing, productivity and for the UK’s recovery. For the millions across the country who have had to turn to high cost and unregulated credit to get by, scaling up community finance would be a huge boost for their incomes. If that isn’t a straight shot at levelling up the UK, then what is?”
Read the report now by downloading a copy here.
See previous editions and Responsible Finance’s other publications.