As a social enterprise owned by its members, we can offer affordable loans that have our members’ interests at heart. As a co-operative working for the members, we can be more flexible than a bank in deciding whether to lend.
We recognise how important it is to build a savings habit so we encourage all our lenders to save alongside their loan. We require a commitment of a regular payment into our “Share One” account alongside the loan repayments as part of the terms of the loan. The “Share One” account is locked until the loan is repaid ensuring that the borrower has a savings pot available to them once the loan has been repaid. This is how we turn borrowers into savers.
All loans offered are subject to status and eligibility criteria, including an affordability check and credit references. The interest rates offered will depend on your own circumstances, and high-value loans may require higher credit ratings.
Please note, Any savings in a Share 1 account are ‘locked’ whilst any loan is in place.
The quickest, easiest, and most secure way to apply for our services is to download and use our fantastic Nivo mobile app. Our app utilizes the latest technology including open banking – enabling us to process your application with a minimum of paperwork and fuss. Click below to begin.
Feeling a bit unsure? Click the NIVO button to find out more.