Lancashire Community Finance wins Citi Microentrepreneurship award

Lancashire Community Finance has received national recognition for the economic and community benefits of its loan services.

Providing personal loans, business loans, start-up loans and home improvement loans to individuals and businesses in North, West and Central Lancashire, at rates of interest considerably below those charged by doorstep and payday lenders, Lancashire Community Finance also provides financial education and money management services.

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. These benefits have been calculated at £2,270,542 – equating to £324,363 for each of the seven staff. Lancashire Community Finance Manager Elaine Rimmer said: “I am delighted that the team and work of Lancashire Community Finance has been recognised through the Citi Microentrepreneurship Awards for the impact that we make. As a small and locally based provider of responsible finance, we maintain our community-based roots – so it’s fantastic for the team to get the national recognition that this Award provides.”