Responsible Finance providers help people and businesses access fair finance they can afford. They’re also called Community Development Finance Institutions (CDFIs) – but what does that actually mean? This short animation shows how personal-lending CDFIs work. You can also see films about CDFIs for businesses and social enterprises. Find your nearest CDFI at findingfinance.org.uk.
Responsible finance is about:
1. Increasing access to finance
Serving customers not supported by mainstream lenders
2. Mission-driven
Organisations reinvesting profits to deliver economic, social and environmental benefits
3. Treating customers fairly
Clear and transparent about the costs of borrowing, lending only to those who can afford to repay and ensuring customers get the best deal and the best outcome
4. A personal service
A supportive approach, with decisions made by people for people
5. Quality-assured and professional
Meeting all Financial Conduct Authority requirements and complying with the Responsible Finance Code of Practice