ETHICAL FINANCER LENDS RECORD AMOUNTS

£250,000 local government assisted loans immediately available for home owners needing urgent repairs

Socially responsible and locally-based lender, South Coast Moneyline (SCML), today announced that it had completed its highest volume of lending during December 2009 for more than three years. During the festive month, SCML lent more than £77,000 to its customers – the highest sum in one calendar month since November 2006. The loan capital was used for a variety of purposes, with the majority for asset rich, cash poor home owners needing essential home improvements, repairs and adaptations to their properties. This included the provision of funds to replace windows and doors; new roofs; renovations to properties and a major conversion of a run down, empty six bedroom maisonette into a three modern one-bedroom flats with provision for social housing lets. Of the £77,000, a smaller proportion was also lent to clients needing small loans for essential Christmas expenditure – an important service to clients on a low income whose only other option is to turn to illegal money lenders and door step companies charging high levels of interest. Chief Executive of South Coast Moneyline, Simon Frost paid credit to his team during an incredibly busy month. “We believe that because it is a safe, inexpensive source of finance, SCML is seeing a steady increase in lending by our Home Trust Loan service. Clients are increasingly recognising the value that we offer of a service which is tailored to their needs and at rates of around 5% is of an unbeatable value in the current market. I would like to thank our customers for their use of our services and our staff team for their hard work. 2010 will provide further challenges to consumers, but here at SCML, we are ready and raring to go to deliver further financial assistance to the people who need it most in our communities”. SCML continues to be committed to the highest possible standards in delivering ethically based, responsible lending to its clients. All clients receive a full financial review which takes account of the individual’s income and expenditure and a loan is only approved if it is affordable and in the interests of the client. So far, SCML has lent almost £300,000 in secured Home Trust Loans since the scheme was launched in 2006 – and not one account is in default or has had a missed payment. -Ends- Words: 400 Image: Simon Frost, Chief Executive of South Coast Moneyline NOTES FOR EDITORS 1. South Coast Moneyline is the trading name of the Portsmouth Area Regeneration Trust, www.scmoneyline.org.uk. SCML has been trading since 2000 and working with local authorities on the delivery of home improvement products since 2003. In that time, it has lent £3 million to people who are experiencing financial exclusion. 2. SCML delivers a range of loan products and other financial services to its’ clients, including its’ flagship Home Trust Loan. This loan is a secured loan, minimum £1,000 and maximum £25,000. Further details are available in the attached pdf leaflet or www.hometrustloan.org.uk. 3. SCML is on course to lend up to £0.25 million to its’ Home Trust Loan clients in the current financial year 2009-10; this will represent a three-fold increase compared with the previous 12 months, in spite of the longest recession in UK history.