Finance award for districtwide community charity
Lancashire Community Finance, which has offices in Lancaster and Morecambe, has received national recognition for the economic and community benefits of its loan services.
Lancashire Community Finance is a not-for-profit Community Development Finance Institution and a registered charity that lends money to businesses, social enterprises and individuals who struggle to get finance from high street banks and loan companies.
Providing personal loans, business loans, start-up loans and home improvement loans to individuals and businesses, at rates of interest considerably below those charged by doorstep and payday lenders, Lancashire Community Finance also provides financial education and money management services.
In recognition of its good work, the company was awarded a Citi Microentrepreneurship Award, at an evening ceremony at the Manchester Marriott Victoria and Albert Hotel, receiving a cheque for £15,000 to boost its work.
Judges in the prestigious 2016 Citi Microentrepreneurship Awards praised Lancashire Community Finance’s, “positive contribution to the economy,” noting that the £816,414 it lent last year, via 838 personal loans, 18 home improvement loans and 48 business start-up loans, has created a huge benefit to the communities in which it works.