Member: Society Free
We are the voice of the Responsible Finance industry
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Responsible Finance: The Industry in 2019
Impact report launched today!
We are delighted to launch our flagship report showcasing the achievements of the responsible finance industry in 2019.
£200m in responsible lending to financially-excluded individuals, businesses and social enterprises in 2019
Responsible finance providers supported thousands of credit-worthy businesses and social enterprises rejected by or unable to access finance from mainstream lenders. They also helped tens of thousands of people on low incomes avoid borrowing from high-interest lenders.
The new research, published today, in Responsible Finance: The Industry in 2019 also demonstrates:
- Responsible finance providers lent a total of £200 million to 40,000 customers in 2019.
- The providers lent £78 million to over 4,200 businesses, creating 3,400 new businesses and creating or saving 8,300 jobs. The businesses they lent to reported an average £320,000 increase in turnover.
- £93 million was lent to almost 400 social enterprises – creating and saving 5,500 further jobs.
- £24 million was lent in 35,000 loans to individuals, saving low income households over £7.5 million in interest payments.
- £3.3 million was lent to over 200 homeowners, enabling people to bring their homes up to a decent standard and to stay in their own homes.
The research also demonstrates how responsible finance providers directly contribute towards reaching the UN Sustainable Development Goals – and includes four key recommendations to enable the sector to scale-up to meet un-served demand.
Read the full report, including messages from Sacha Romanovitch at Fair4All Finance and Rebecca MacDonald at Big Society Capital, here: https://responsiblefinance.org.uk/policy-research/annual-industry-report/