About Us

Affordable loans

MCF Loans is a Responsible Finance Provider (RFP). That is an independent, not-for-profit business that exists to bring together public and private funding to provide affordable loans to reduce social and financial exclusion.
Derby City Council played a major role in the set up of MCF Loans and continues to be supportive. Our other partners include Rolls-Royce, the Derbyshire, NatWest, Home Housing Association and Derwent Housing Association. The list is growing all the time.
Can’t get credit
MCF Loans has been set up to provide credit to people, businesses and community groups who can’t get credit from the well-known banks and building societies.
This may be because of past financial problems or maybe they just never got round to opening a bank account and now feel that they might get rejected. They may have gone to high cost lenders in the past because they felt that there was no alternative and now realise how expensive they can be. They might want to start a business or become self-employed but don’t have a track record in what they want to do and are finding it hard to raise the money. They might just be a few people who want to start a local community business and need a small loan to get things started.

MCF Loans is not just another loan company.

MCF Loans is a community organisation which doesn’t have to distribute profits to shareholders or owners. That keeps our costs low, so interest rates can be kept low too – just a little higher than the banks.

Some of the things we don’t do are also important
·         We don’t encourage our customers to take on bigger and bigger loans repayable over longer and longer times.
·         We don’t pay our staff commission based on the amount of money they lend to customers.
·         We don’t tie customers to MCF Loans. Once a customer has had a loan from us, we hope they will come back, but if better rates are available from their bank, we’ll give them a reference to help them access the whole range of banking services.