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Responsible Finance

Responsible Finance

Member: Society Free
Since: 12.10.2016
We are the voice of the Responsible Finance industry

Unit 5 Angel Gate, 320 – 326 City Road, EC1V 2PT London, United Kingdom
RSS

Responsible Finance: The Industry in 2019

13.12.2019 Share

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/

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