Popular Glasgow social lender to open in Edinburgh

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After a decade in Glasgow, Scotcash will soon operate in Edinburgh after being awarded a £300,000 grant

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15th February 2017 by Paul Cardwell 0 Comments

A Glasgow social enterprise which provides basic bank accounts and affordable loans to those excluded from getting credit is to offer its services to people in Edinburgh for the first time.

Scotcash has announced it will expand its offering east after a decade of operating in Glasgow and has been awarded a £300,000 from Virgin Money Foundation via its Ripple Fund to do so.

Launched in 2007 Scotcash has been tackling financial and social exclusion in the city by targeting and working with people living in poverty who face barriers to the financial services that most take for granted.

As well as affordable loans and basic bank accounts the enterprise offers financial advice, discounted household goods packages and access to credit unions.

Sharon MacPherson, chief executive at Scotcash said: “We are delighted to be awarded funding from Virgin Money Foundation.   

“This will go a long way towards helping financially excluded citizens in Edinburgh access the financial products and services they need to make the most of their money. 

“This award from Virgin Money Foundation will allow Scotcash to expand our already successful services to Edinburgh and promote financial inclusion across local areas where these services and products are needed most.”

Nancy Doyle, executive director of Virgin Money Foundation, added: “Tackling the root causes of disadvantage is key in the goal of regenerating communities across the UK.

“Financial exclusion is one such issue that holds people back, keeping them in a cycle of poverty.

“Scotcash have proved over the last decade that they can help people gain control of their finances.

“We are excited to see the sphere of their impact ripple out into Edinburgh and are proud to be supporting their new initiative.”