A new website has launched targeting consumers and small businesses .
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div>A new website has launched targeting consumers and small businesses which are looking to access finance in a fair, affordable and socially responsible way.
The website, www.findingfinance.org.uk, run by the Community Development Finance Association (CDFA), gives users access to up to 60 local lenders which all have something in common: they are members of the Association, known as Community Development Finance Institutions (CDFIs).
A CDFI is a social enterprise that is dedicated to lending to support the British economy in a fair, ethical manner. These lenders are independent and not for private profit.
www.findingfinance.org.uk, which was launched last week, claims to be the first “quick and easy way for people businesses and social enterprises to find an ethical loan.”
Commenting on the website, Ben Hughes, Chief Executive of the CDFA, said: “CDFIs offer an amazing service, providing vital finance and advice that is transforming lives and communities. I am sure that business owners and families want to know about ways of getting fair, affordable credit on their doorstep. And now they can.
“The Finding Finance website gives us the opportunity to shout about the ethical loans that are available. They really are an obvious choice for anyone who needs finance and has the means to repay.”
One of the participating CDFIs is GLE oneLondon, provider of unsecured business loans, including start up loans throughout the UK.
Nicholas Nicolaou, Managing Director of GLE oneLondon added: “As businesses are still struggling to access finance from mainstream providers, we are very pleased to see the new Finding Finance website, which is a simple and speedy tool enabling a user to find the right CDFI in their locality for their needs in a matter of a few clicks. Ultimately, this will help even more businesses find the right CDFI for them to help them start up and grow their local business.”
One of the CDFA’s aims is to ensure people are aware that they have an alternative to payday lenders, which they deem to be “predatory”. In 2013, CDFIs assisted 40,000 people who would have otherwise considered a payday loan.
The CDFA told B&C that their members are closely monitored and their business lending and job creation levels are top priorities, alongside the provision of fair, affordable finance.
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