Fair For You Enterprise CIC

Fair for You is a not for profit lender, providing small loans to lower income households to purchase essential items for their home. We are challenging the highest impact high cost credit that creates a large part of the poverty premium, and sees millions leaving our communities every week, extracted through the poorer households to high cost lenders often based overseas. We have arrangements with manufacturers to sell items to our customers at market price. We provide loans to meet the needs we identified through extensive consumer research. Loans that are affordable, highly transparent with no arrangement fees, no late fees, no repayment penalties, and no obligatory added sales. Our loans are flexible allowing our customers to overpay and pay off when they can. Our interest is calculated daily and applied in arrears, so there is a direct benefit to any overpayment. Fair for You is committed to providing highly visible lending, with quality monthly updates on the loan, and absolutely no sales pressure. None of our staff have any sales targets or incentives. Fair for You Enterprise CIC is wholly owned by a Charity, Fair for You Ltd, that has a single objective to alleviate poverty through better lending solutions. In setting up Fair for You, we are returning to a traditional lending service, with the values of a genuine cooperative businesses where there are no interests that sit above the wellbeing of our customers. We are seeking to deliver a very real challenge to high cost credit in the UK, when it is most needed and when families are most vulnerable. We have attracted funding from a number of supportive trusts, and operate without a marketing budget. We welcome partnering widely for the benefit of clients, tenants and customers that need credit when facing an emergency such as a broken washing machine.