Financial Inclusion

Tender description

Under our Vision 2020, City of Lincoln has a key strategic priority of ‘Reducing Inequality’ and a specific project to ‘Promote access to a range of financial products’. We are looking to signpost to products of an ethical nature and that provide value for money to citizens of Lincoln. As well as a range of other products, we are specifically looking for a service which will lend to citizens – ideally through an online portal or over the telephone, where a prompt decision and payment can be made – as an alternative for citizens of Lincoln whose financial position is such that they who would normally have little alternative but to access ‘payday loans’ at extremely high interest rates. Ideally loan provision or a brokerage system will be provided, which City of Lincoln Council would help to signpost to through our Lincoln Against Poverty website (http://www.lincolnagainstpoverty.co.uk/) . The provider will ideally: - Provide an online service that either lends directly or acts as a brokerage for affordable financial products available to Lincoln residents; - Provide a telephone helpline where residents can contact with questions and queries, and to obtain support and advice on the service; - Provide materials required to facilitate the referral of customers to the services provided; - Make referrals to advice providers – including City of Lincoln Council’s Welfare Team (https://www.lincoln.gov.uk/living-in-lincoln/benefits-and-council-tax-support/welfare-benefits-advice-surgeries/ ) , that can deal with the root causes of financial exclusion – e.g. benefits, debt and housing advice. In support of your expression of interest please submit supporting information which demonstrates your ability to achieve the above. Keywords: financial inclusion