Salad Money Impact Report 22-23 WEB - Flipbook - Page 13
HUGE DEVELOPMENTS
ACCELERATE IMPACT
Salad distributes £130,000 NatWest Group and Responsible
Finance grants to 1,300 households in hardship
With nearly a quarter of households struggling to
pay for food and other essentials and a 33% jump in
households in 昀椀nancial di昀케culty, the NatWest Group
and Responsible Finance Hardship Grant Programme
was designed to help 昀椀nancially vulnerable households.
When NatWest Group wanted to increase its support
for communities it identi昀椀ed CDFIs and Responsible
Finance as key delivery partners. Salad and 昀椀ve other
CDFIs used their infrastructure to get the funding
straight to those who needed it most. Salad has
distributed grants of £100 each to 1,300 people who
had applied to us for a small-sum loan, but we had to
turn down.
MoneyMind and bene昀椀ts boost
Last year’s impact report covered the extraordinary
amounts of bene昀椀ts our applicants were due, but not
claiming, which we’ve helped them identify. It’s a tragedy
that nearly £20bn of bene昀椀ts are unclaimed especially when
so many are in dire 昀椀nancial straits.
Our bene昀椀ts checker is embedded in our applicant journey,
so anyone applying for a Salad loan can check whether
they are claiming all they are entitled to. Many thought
they were not eligible and are astounded by the amounts
they’ve missed.
The grants have helped people feed their children,
replace broken appliances, and carry on getting to
work. They’ve been an immediate lifeline.
“I can’t thank you enough for helping me when I really
needed to put food on the table for my children. I was
so surprised, It came so fast too.” Alexandra, Croydon.
No Interest Loan
Scheme (NILS)
The Government-backed No Interest Loan
Scheme (NILS) pilot o昀昀ers no interest loans
to people in vulnerable circumstances, and
has been rolled-out by Fair4All Finance with
Toynbee Hall and FairByDesign.
Salad began disbursing NILS loans in July
2023 and by the end of August we had
disbursed 699 loans of £500 each.
This year we’ve also strengthened our MoneyMind tool to
help key workers 昀椀nd extra help, based on their personal
circumstances and location. Typically, we send signposting
information to 30,000-40,000 applicants every month.
2022-2023 Impact Report
13
