Published: 3rd Feb 2012

With economic flatlining, concern at the volatility of global markets and fundamental questioning of traditional economic models, there’s hunger for change to the financial services industry. The gap between the availability of affordable finance and demand from viable, credit-worthy customers (businesses, social enterprises, and individuals) is not only wide, it is increasing: • 40% of small businesses seeking their first loan cannot get one • 33% of social enterprises are hampered by the lack of finance • 38% of underbanked people turn to high-cost lenders Now is the time to offer a new opportunity to all UK communities, businesses and civil society organisations that are denied access to financial services, services which we know are the foundation for local economic development, social equality, and the basis for economic recovery. The UK’s community finance sector is the unsung hero of the financial services industry. Community development finance institutions (CDFIs) have been … (To read the full article, subscribe below)