Moneyline | Big Society Capital

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Moneyline

Social issue | 
Product theme | 
Region | 

Moneyline offers access to affordable credit to consumers on low incomes. It used social investment to grow its social business.

Problem 

Millions of low income households have poor access to mainstream financial services in the UK, which means many people struggle to get bank accounts, affordable credit and other financial products.

Solution 

Moneyline offers small, short term, unsecured loans to customers who are denied credit or ignored by high street banks and who would otherwise pay too much for their money with higher cost lenders.

Revenue

Model Moneyline offers small, short term, unsecured loans to customers who are denied credit or ignored by high street banks and who would otherwise pay too much for their money with higher cost lenders.

Impact 

Since it was established Moneyline has issued over 85,000 loans with a value of over £46 million to customers in some of the most disadvantaged areas of the UK. They also promote savings, which are swept into a linked bank account and is popular with 80% of new customers. Where appropriate, Moneyline refers or signposts customers to free, confidential debt advice.

Customers are living on very low incomes within the most disadvantaged neighbourhoods.

Diane Burridge, CEO, Moneyline

Taking people away from the high interest lenders and illegal loan sharks and offering them the opportunity to get loans from a responsible social enterprise lender is a great alignment of our missions.

Nigel Kershaw, CEO of Big Issue Invest

Key information

Duration | 
7 years
Cost of capital | 
6.75% & 10%
Investment amount | 
£1 million & £500,000
Turnover | 
£2.8 million