Big Issue Vendor

Fair For You

Fair For You seeks to challenge high-cost lending, and to provide an ethical, fair and transparent alternative for families.

Fair for You (FFY) is a leading not-for-profit responsible lender. Set up in 2015, the FFY team have scoped, designed and delivered a fintech solution for lower income families who can’t get access to mainstream credit and need to purchase household goods. Through the Fair For You website, customers can choose products to buy, order directly from the supplier and pay using an affordable Fair For You loan. FFY sees well designed credit as a tool for people to lift themselves out of poverty. It is intended to rival high cost “rent to own” stores, giving lower income customers an alternative credit solution where they are treated with dignity and respect. The model has been extensively tested with the target customer base to ensure it meets their needs. Pricing is key: this is a service that is substantially cheaper than the commercial alternative, but the quality of customer service is equally important. Treating customers with dignity and respect is in the business’s DNA; it is designed to be a tool people can use with pride.

FFY is seeking to expand its product range beyond household essentials to create a virtual high street, and give customers real choice and alternatives to high cost lenders. It has recently launched an automated decision making system to make the loan process more efficient and is concentrating on ensuring that the high quality of delivery and attention to customer needs is maintained as the scale-up continues. Customer feedback indicates this is working: around 2500 customers have rated FFY on Trustpilot, giving it a score of 9.8/10. The organisation made 11,466 loans in 2017, up from 3737 loans in 2016, and, CEO Angela Clements was recently named the “Women in Credit Awards”’ Entrepreneur of the year.

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