Fair for You
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Fair for You improves people’s lives through responsible lending, helping families access the things they need and supporting them along the way. They believe that affordable finance should be accessible to a wider range of people including many of the 17.5 million people excluded from mainstream finance due to low or fluctuating income or life events.
Duration
5 Years
Cost of capital
6.5%
Turnover
£2.2m
Investor Details
Key Fund
Amount invested
£115,000 Loan, £35,000 Grant
Product type
Blended – part grant, part loan
6 Takeaways From 6,000 ‘Is It Right For Us?’ Tool Completions
Blog
Earlier this year, the 6,000th user completed Good Finance’s ‘Is It Right For Us’ tool , which helps charities and social enterprises to determine whether social investment is worth exploring. In this post, we explore what we can learn from these results and how it challenges our assumptions of the...
Husna
Godly loan. Borrow and return the same amount of money.
Qard Hassan
Interest free loan where the same amount of money is borrowed and returned.
Riba al-nasiah
Interest-based lending that results from the exchange not being immediate. A practice similar to conventional lending today where the borrower pays the lender more than the original amount lent to reflect the delay in repayment.
Riba al-fadl
The concept of Riba al-fadl refers to exchange or sale transactions in trade which effectively result in the charging of ‘interest’ through the exchange of the same commodity, but of a different quality or quantity.