Here at CLEVR Money we’re proud of the role we play in our local community. As a not-for-profit organisation we lend money in an ethical manner, providing loans which help to improve the lives of our members and the local economy. Our family loan, known as a Family Booster, is a clear example of that approach.
We treat our members as individuals rather than sets of numbers on a computer screen, and that’s why we’ve designed our family loan as the perfect solution for when borrowing a relatively small amount of money could genuinely make all the difference.
At £300, our family booster could be enough to pay for school uniforms, replace a washing machine or fund a weekend away for the family. It is available to members who live or work within the Blackpool, Fylde, Wyre, or Preston areas.
Rather than basing the family loan solely on a credit check, we make a decision using the life and finances of each member as they make an application. We know how easy it can be to end up with a poor credit rating, and we don’t think this is a good enough reason for preventing our members being able to access affordable borrowing.
Our family loans can be paid back using a direct debit, standing order or using a benefit such as child benefit over a period of 26 weeks, thereby also reducing the risk of a missed payment. Members can take out a family loan and know exactly how much they’ll be paying back, what interest is being charged, and what the final cost of the family loan will be.
As an ethical lender we keep our interest rates as fair as possible, and pride ourselves on the fact that our family loans come without any extra fees or charges. What you see is what you get with CLEVR Money and, at the end of 26 weeks, the family loan will have been repaid in full.
If needed, our members can top the original family loan up after 13 weeks, borrowing a little more at the same fair interest rate and with the same simple repayment plan. We like to keep things simple, affordable, and repayable, and our family loan ticks all of those boxes.
Applications can be made online and the process is quick and simple.
Borrowing £300 over 26 weeks require repayments of £12.65 per week. Total amount repayable is £328.90 which includes interest at 42.6% Representative APR, Annual interest rate (fixed) 36%.
The figures given above are for illustrative purposes only. The actual interest rates and repayment amounts may vary subject to loan amount and status.