Finance: Fair Finance lends mainly to marginalised groups

Mathew Little

Ethical lender Fair Finance has published its second disclosure report, giving details of its entire loan portfolio.

The report shows the gender, ethical and geographical spread of the loans made by the company between April and December last year.

Ninety-nine of its 156 loans have been to women and 61 to people from ethnic minorities. It tripled the number of loans it has made and more than doubled the size of its portfolio.

Faisel Rahman, managing director of Fair Finance, called on high-street banks, lenders and community finance bodies to follow suit. "The Government demanded disclosure of all lending by financial institutions in 2000," he said. "To date, we are still the only one to release all of our lending data in an accessible format."

John Aldenton, chairman of Fair Finance, called on the Government to legislate to "force lenders to be transparent about their lending".

Fair Finance aims to tackle financial exclusion among poor communities in east London. It was launched in April last year.

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