As a subsidiary of Street UK Foundation, we are delighted to introduce this report which mentions our accomplishments during the previous year. This was a year when Street UK made over 12,000 loan advances helping each of our customer’s save over £269 versus an alternative high-cost lender.
This year’s report has been expanded to include the extensive work we do within Street UK Services and Street UK Homes. Both of these businesses provide services to the 3rd sector, alternative finance institutions, and Local Authorities to help support our mission.
Reflecting on our Social Impact Report, the CEO, Kashaf Ali, said:
“Families that are on low incomes or benefits typically can’t access the financial solutions they need at short notice. The ‘poverty premium’ they face is shocking and leads to a vicious cycle of paying disproportionally high-interest rates that make getting out of debt far more difficult. These extra costs add up to £490 per year on average, a considerable amount when household budgets are already facing pressures from rising bills. It’s an inclusive issue Street UK Foundation set out to address and those that are financially excluded save on average £269 compared to the market leader by choosing to come to us.”
There is still much more to do to help improve the life chances of individuals and communities. We cannot exist without like-minded organisations that are willing to provide support for us to achieve our mission.