FAIRshare First Loan

Looking for a loan?
Live or work in Telford or Shropshire but you’re NOT YET a FAIRshare member?
Then look no further than our new FAIRshare First Loan – the fair, manageable First Loan for NON-MEMBERS.

With a FAIRshare First Loan, you can borrow between £300 – £1000 over a maximum of 143 weeks for £14 a week including savings, 42.6% APR.  If your loan application is approved, you’ll need to become a member of FAIRshare before the funds are released.

To apply for a FAIRshare First Loan you must –

  • NOT be an existing member of FAIRshare
  • Have a regular income from employment, pensions or benefits*
  • Be over 18 years and under 70 years old
  • Not be bankrupt, in a Debt Relief Order (DRO), an Individual Voluntary Arrangement (IVA) or a Debt Management Plan

Quick & easy to apply

Apply online now for a quick decision.  Processing time will vary depending on demand, but we aim to have made a decision within 72 hours of receiving all supporting paperwork.

Saving as you borrow

Your repayment includes a saving amount, so when you’ve paid back your loan, you’ll have saved money too.  For example, borrow £750 and after 93 weeks you will have repaid your loan AND saved £279.  The minimum saving amount is £3 a week or £12 a month.  We call this Save as you Borrow, and its one of the great benefits of borrowing from FAIRshare.

Fixed repayments

To help you budget, repayments are fixed at £14 a week for all loan values up to £1000.  Fixed 2 weekly (£28), 4 weekly (£56) & monthly (£60) options also available.

Representative example

Borrowing £500 over 55 weeks will cost £11 a week + £3 a week savings – £14 including savings.  Total amount repayable is £600.63 which includes interest at 42.6% APR (3% per month).  Rate of interest 19.1%.  Total savings £165 after 55 weeks.

Terms & Conditions

Apply now online for a FAIRshare First Loan.

*Usually refers to Income Support, Job Seekers Allowance (JSA), Employment Support Allowance (ESA) & Universal Credit (UC)