Our Mission
We’re providing borrowers with alternative type of lending. How are we doing this? By using a completely new method of affordability assessment removing the need for a strong credit score. We assess our applicants on the here and the now, because when it comes to lending money….. You’re more than your score!
Our Mission… Fair Lending.
We’re providing borrowers with an alternative to toxic high-cost lending. How are we doing this? By using a completely new method of affordability assessments and doing away with out-dated credit score. We judge our applicants on the here and the now….that’s Fair Lending.
Measuring our success
Salad Money use the UN framework of social impact assessment to measure how we are performing in our social goals. There are 5 million+ public sector workers and we look at the following impacts we can have on them:
of Salad Money’s public sector customers are female with 17% male (8% are unidentifiable).
The majority of Salad Money’s public sector customers are under the age of 44, with 31% over the age of 45.
of Salad Money’s public sector customers are supported by some sort of benefit.
of Salad Money’s public sector customers are private tenants. With 19% owner occupiers, 10% living with parents, 15% housing association tenants and 16% council tenants.
of Salad Money’s public sector customers are in the first 3 IMD deciles (Index of Multiple Deprivation), with 28% in deciles 4 to 6.
The credit market re-imagined
For many credit score is not a fair way to be assessed for a loan. Excluding these applicants from affordable credit only drives them to toxic lenders. We’re changing things…using our Open Banking application process, we can lend money to those in the public sector harshly excluded by the mainstream lenders.
Where it all began
Salad Money was established in 2018 after the identification of a severe lack of affordable credit for individuals with impaired credit score. Open Banking was identified as the technological solution and carried forward by CEO Tim Rooney. Salad Money to date has lent over £81m to people working in the public sector.
Why we are different
The social goals of the business come at the heart of everything we do, our employees are driven by helping people and the pleasure we get is through hearing about the support we have provided.
"Salad Money is a fantastic place to work, with a team of people all focussed on supporting people across the UK, with access to credit. The team I work with are insightful and thoughtful about everything they do and it’s a pleasure to work with them every day."