New funding will help Salad reach thousands more Londoners excluded from mainstream credit. A £1.5 million social impact investment from City Bridge Foundation, enabled by a £1.2 million funding guarantee from Fair4All Finance, will unlock up to £20 million in affordable and responsible lending capacity, helping more Londoners access fair credit when they are unable to do so through mainstream providers.
The investment will support Salad's mission to widen access to affordable credit for people who are underserved by traditional lenders despite often having stable incomes and manageable borrowing needs.
As demand for accessible and responsible credit continues to grow, the new funding will support Salad’s continued growth and expand its reach across London's communities. Research from Fair4All Finance shows that 46% of Londoners currently have low financial resilience, and affordable credit remains out of reach for many households.
The partnership demonstrates how mission-led investors, funders and lenders can work together to tackle financial exclusion at scale, at a time when household finances are increasingly stretched.
The investment comes through Fair4All Finance's Guarantees Pilot for Affordable Credit, which uses funding guarantees to encourage new sources of investment into the community finance sector. By reducing risk for investors, the model is designed to unlock capital that might not otherwise be available to support affordable lending.
Craig Pennington, CEO of Salad, said:
"This investment is a significant milestone for Salad and an important vote of confidence in our mission to make fair and affordable credit accessible to more people who are overlooked by mainstream lenders. We see every day the challenges faced by people who need access to credit but are excluded by traditional approaches to lending. The backing of City Bridge Foundation, alongside the support of our long-term partner Fair4All Finance, will enable us to reach more Londoners and continue building a financial system that works for people who have too often been left behind."
