Facilitating Financial Inclusion in the Refugee Sector
Financial exclusion can have devastating consequences for individuals and families, affecting their ability to secure stable housing, education and employment, to access social and community services or to grow a business – amongst so much more. Vulnerable and low-income households are most affected by these issues, often being left with no choice but to consider high-cost credit and informal lending.
Unfortunately, those who have claimed asylum in the UK are disproportionately affected. This Refugee Week, join RefuAid, Skylight Ventures, Together Now and RootsMove to explore these issues, as well as potential solutions, including RefuAid and Skylight’s interest-free lending programmes.
Through a combination of presentations, panel discussions and interactive sessions, this event will focus on highlighting sustainable and scalable solutions that put financial independence and economic integration at the very forefront of the narrative. We’ll hear first-hand experience of the barriers people face; look at long-term solutions to address these; and discuss the individual and national benefits of doing so.
About us:
RefuAid provides people who have fled their homes with tailored support to build independent and dignified lives in the UK. As part of this, they run an interest-free, character-based lending programme to cover the costs associated with professional re-accreditation, family reunification and housing. To date, they’ve lent over £2million with a repayment rate of over 98%.
Skylight aims to build an inclusive funding ecosystem to meet the needs of refugee founders at every stage of business development. They currently offer the UK’s first interest-free business loan for refugee entrepreneurs, which offers up to £1,000 with a distribution timeframe as quick as 2 weeks. Piloted by TERN, the UK’s largest refugee business community, they have now lent a total of £40,000 to 49 businesses with an aim to expand lending to 200 entrepreneurs in 2024.
Together Now is a charity that supports refugee families seeking legal family reunification and new lives in the UK. With our help, families are able to live together in safety, access housing, education, healthcare and statutory support, avoid financial risk and hardship, begin to recover from trauma, and integrate into new communities.
RootsMove RootsMove is committed to ending homelessness among refugees in the UK. Through a network of partnerships, we support refugees to access housing and make their home a safe, comfortable place to live.
This event will be hosted by Say It Loud Club – Say It Loud Club is a member-led grassroots community for LGBTQ+ refugees and asylum seekers in the UK. They provide tailored support through one-on-one peer mentoring, educational workshops, social events, peer support and referrals to partner organisations for legal, financial, health and housing support.