Fair for You set to enhance support for financially vulnerable customers with funding from Shawbrook
Fair for You Enterprise CIC, the not-for-profit lender providing affordable credit to underserved individuals, has secured a new credit facility from Shawbrook.
Fair for You Enterprise CIC, the FCA-regulated not-for-profit lender dedicated to providing affordable credit to underserved individuals, has secured a new credit facility from Shawbrook. This funding, plus a new funding facility from Fair4All Finance, doubles Fair for You’s ability to support families in need, meaning that tens of thousands more customers will be able to access essential household items and build financial resilience.
Founded in 2015, Fair for You is an ethical lender and social enterprise, with a mission to empower financially excluded households. By working with trusted retailers, including Argos, Iceland and Hotpoint, they offer flexible finance options that let customers tailor repayment schedules and loan terms to suit their circumstances.
This partnership marks the fourth funding line Shawbrook has provided to an organisation of this kind, highlighting its ongoing commitment to supporting Community Development Financial Institutions (CDFIs). The additional funding will allow Fair for You to expand its reach, supporting more people during challenging times.
The deal was supported by a credit facility from Fair4All Finance, a not-for-profit organisation which exists to improve the wellbeing of people in vulnerable financial circumstances by increasing access to fair, affordable and appropriate financial products and services.
This funding from Shawbrook and Fair4All Finance is a crucial step forward in helping Fair for You extend its reach to even more customers who might otherwise struggle to access affordable credit.
Simon added:
"As rising costs continue to put pressure on household budgets, we remain committed to supporting such families by helping them avoid having to go without essential household items. The impact of Fair for You lending clearly demonstrates that affordable microcredit can bring people out of hardship, help them regain control of their finances, and improve their mental and physical wellbeing.
“Shawbrook’s understanding of the not-for-profit lending space together with Fair4All Finance's commitment to the Fair for You mission will enable us to lend to even more customers and scale further our social impact.”
Oliver Atkins, Associate Director at Shawbrook, commented:
“With the cost-of-living crisis continuing to impact households across the UK, Fair for You’s mission to provide affordable credit has never been more vital. We’re proud to support an organisation making such a meaningful difference to individuals and families who need it most.”
Holly Piper, Investment Director at Fair4All Finance, said:
“This co-investment with Shawbrook represents an industry first - the first large senior debt facility from a commercial funder to a not-for-profit personal lending CDFI. Fair4All Finance has been working with Fair for You over many years to facilitate an appropriate structure that has been the catalyst for Shawbrook's investment. Together with the additional Fair4All Finance credit facility announced today this will increase access to affordable credit and improve the financial resilience of families across the UK.”
Fieldfisher LLP acted as legal counsel to Shawbrook.
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