The not-for-profit lender Fair for You has launched an 8% bond offer on Ethex to back its expansion in Scotland.
The lender is seeking £500,000 to help more low-income families access affordable credit for essential items.
Funds will support Fair for You’s three-year plan to provide loans to 50,000 Scottish families, worth about £17m.
According to the lender said this could generate an estimated £272m in social impact.
Chris Butler, interim CEO of Ethex, said: “Mainstream finance has turned its back on the people who need it most.
“This bond is another opportunity for investors to stand up for fairness, helping families to access essential items without the fear of falling into problem debt.
“Fair for You has already transformed thousands of lives, and with their expansion in Scotland, they can reach thousands more.”
Butler added: “Our investors have shown support for financially underserved families who have been let down by banks in the past and we look forward to launching this new bond.”
Simon Dukes, CEO of Fair for You, said: “We know the devastating impact that high-cost credit and illegal lending have on families.
“Our approach treats customers with dignity, compassion and fairness.
“With the continued support of Ethex investors, and as we celebrate 10 years as a charity-owned lender, we can build on our existing work in Scotland and give thousands more people the financial breathing space they deserve.”
