Starter Loan

  • For new members who have no savings.
  • Loan will range from £100- £300 depending on income and affordability.
  • Members can only access one Starter Loan.
  • Members will be eligible to apply for a Saver Loan once they have saved at least £100 and have repaid at least half of the original balance of  their Starter Loan.
  • Interest rate is 3% per month ( 42.6% APR).
  • Maximum term 34 weeks/8 months.
  • Illustration – a loan of £300 over 34 weeks . You repay at £10.00 per week and  total interest paid is £37.44.

Enquiries can be made online, at 187 Fog Lane , through our community branches or by post .

Applications may include a short face-to-face interview.

The repayment example above is for illustration only.  Full loan repayment tables are available.

click here to download Starter Loan Application form.