Around 34,000 people taking, on average, two payday loans of £250 each for 30 days. Around 20,000 doorstep borrowers borrowing an average of £650. Around 20,000 people taking two loans through pawning of an average of £250, each for a couple of months. Around 300 logbook borrowers (usually secured on a vehicle) at £2,000 each. Around 3000 people borrowing an average of £600 for two years through a weekly payment store. This means a figure of 50,000 borrowers borrowing an average of around £800 in the non-standard credit market. That’s around 12% of the adult population, concentrated in the more deprived parts of the city.

Initial assessment & then match customer to appropriate product / service Employers Awareness raising Payroll schemes Landlords Awareness raising New tenancy incentives Voluntary, Community & Faith and Trade Union Networks Awareness raising Customers Online / Phone / City Centre Shop Savings/Money Management Products Personal Credit Advice and Support Short/medium term loans at less than 50% of commercial rates White goods packages Debt advice Money advice Including payroll savings options Transactional card accounts

Finance for Sheffield (trading as Sheffield Money) established as an Industrial and Provident Society Board set up: Peter Bradley (Chair) Sharon Squires (Secretary) Miranda Plowden Andy Buck Recruitment started FCA registration submitted Developing ways to measure social return of investment Building relationships with key stakeholders across the city Progress: setting up the company

Identified and secured prominent city centre premises Developed clear brand identity Website under development Communications and marketing plan Work with landlords to raise staff awareness Progress: here for customers

Personal Credit Short/Medium-term loans at less than 50% of commercial competitors Working with Five Lamps CDFI and Credit Unions White goods packages with Appliances Online Savings and Money Management Products Savings with Credit Unions Transactional card account with Ffrees Insurance options in development with Thistle Group Advice and Support Working with Sheffield Citizens Advice Working with Money Advice Service Progress: offering the right product

Promote Sheffield Money through your communications Work with us to develop materials for front line staff Work with us to develop key messages for customers and service users Explore other ways of promoting the service

Staff benefit as well as a service for Sheffield residents Payroll deductions to savings Access to loans at better rates than high street banks

Opportunity to invest in the development of a business aiming to make a positive social impact Discussions with Key Fund Shares in the company Donations also possible

Five Lamps have an initial investment of £500k in lending capital for Sheffield We need to match this with a further £500k over the short term Longer term working toward a total fund of £2.5m Social Loan Note – 5-year investment Social return on the investment Financial return on the investment