DWP Financial Inclusion Team - Third Sector Tender Exercise-Deadline 29/01/10

Sunday, January 03rd, 2010 | Posted in : |

The DWP Financial Inclusion Champions are seeking proposals from Third Sector not for profit organisations to support small-scale financial inclusion initiatives. It must be stressed that this is not for creating any new national projects, but for reinforcing what already exists locally and what has not already received direct support from the Financial Inclusion Fund – so, for example, capital for onlending and the provision of debt advisors are out scope.

Contracts will be awarded to organisations which demonstrate their ability to deliver against one or more of the objectives of the Fund outlined above.

Monies may be used for a variety of purposes including (but not limited to) marketing services to consumers, infrastructure development, product development, mergers between businesses, and supporting the delivery of affordable credit, savings, financial capability or money advice services to consumers.  Particular attention will be paid to those proposals which demonstrate the positive and long term impact the money will make.  In particular, how it will enable:

•Improvements in efficiency which allow more loans to be made to low income consumers
•Improvements and innovation in products and/or services which allow more loans to be made to low income consumers
•An increase in the scale of operations and number of loans made
•An evidenced increase in access to affordable credit in an area which currently has restricted access to affordable credit
•Innovation in products and/or services which allow and encourage more low income consumers to save
•Innovation in products and/or services which increases the number of Home Contents Insurance policies taken out by low income consumers
•Innovation in products and/or services that increases the number of people able to access face to face money advice and guidance
•The sustainability of services developed.

For further details visit http://www.nowletstalkmoney.com/gb/en/DWPFinancialInclusionTeamThirdSectorTenderExercise.html

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