Twelve percent, which is more than a bank and a fraction of the alternative
The rates
Around twelve percent on a small loan. A bank may be cheaper if you can get one; a doorstep or payday lender is between twenty and forty times more.
Who can join
Anybody living or working in the district. There is no credit check to join and no minimum income.
Saving first
Most loans require a few months of small saving first. That is a genuine barrier and it is also what keeps the rates where they are.
