Fair4All Finance is delighted to announce the five affordable credit providers who will join our pilot scale-up programme. Congratulations to Enterprise Credit Union, Fair for You, Five Lamps / Conduit, Leeds City Credit Union and Moneyline who have been selected to participate in the programme.
The five organisations selected demonstrated the greatest potential for scale, have developed sustainable models for serving the most vulnerable and have the most potential for drawing out best practices that can be shared for the benefit of the wider affordable credit sector – a key aim of this pilot programme.
We received a total of 55 submissions for the pilot, with applications coming from all regions of England, making selection incredibly tough for this first phase. We saw best practice examples across all 55 submissions and recognise that all providers are critical in our efforts to tackle financial exclusion. Our team are currently exploring how we can facilitate collaboration with this wider group on key themes and will share updates on our progress in due course.
Not only will this pilot help us towards our goal of scaling a sustainable affordable credits market, but it also offers an important opportunity to learn more about the sector’s current barriers to achieving sustainable growth. Our intention is to use the insights we gather to design effective interventions and programmes that share good practice and further scale the market.
We look forward to working with this initial group of providers over the coming months to help the market to scale. Please sign-up to our newsletter if you’d like to receive further updates about the pilot programme and our work in this area.