Fair for You
01 Nov 2023
- Glasgow and Strathclyde
Fair for You offers affordable finance to people who may not be eligible to borrow from traditional lenders.
Set up in 2015, Fair for You aims to help financially-excluded families have a comfortable, healthy, happy home by supporting the purchase of essential household goods. When assessing applications, Fair for You looks past credit scores and considers the unique and individual circumstances of the customer before deciding whether to lend.
In July 2022, in response to the cost of living crisis, SIS provided Fair for You with a £350,000 loan drawn down from the Scottish Community Lenders Investment Fund. This support helped Fair for You launch a pilot programme in Glasgow to help up to 1,000 households with additional support to purchase essential white goods, such as washing machines, fridge-freezers and cookers, directly from the retailer. Families received an average loan of £350 on new, flexible, affordable credit terms, and the scheme will run until December 2024.
Using data from their 2022 independent social impact report, Fair for You reported that, so far, over 280 people’s lives in Glasgow have been changed through this better lending practice, around 28 of whom are likely to be living with a long-term sickness or disability.
Social lending requires social investment, and Fair for You has received invaluable support from Social Investment Scotland for many years. Thanks to investment from Social Investment Scotland, there are tens of thousands of families across all four nations of the UK whose lives have been changed for the better as a result of a loan from Fair for You.
CEO, Fair for You