Wednesday, May 6, 2009


Unethical lending practices in the US over the years are at the forefront of global concerns. The consequences of lending to ill-equipped borrowers have effectively sent large banking institutions into turmoil. Their negligent lending practices have impacted the global markets by successfully reintroducing fears reminiscent of the late 1980s and even the Great Depression.

As the costs of living deteriorates disposable income, the market for loans has expanded to include those that have originally been categorised as middle class citizens. Accompanying this trend comes a decrease in bank’s willingness to take on new customers for various reasons. Until recently, the only available alternatives pray on these people by using unethical lending practices.

That is where we come in. Our aim is to protect consumers from unfair lending practices by dismantling ‘the predatory nature of the fringe lending market and its ability to add to the financial difficulties of people on low income.’ 1 However, more must be done to create a social conscience that aims to protect vulnerable borrowers. We at Financier are an ethical business that makes every effort to help the community and change the way people have been treated by companies with poor lending practices.

We believe we can bridge the gap that has arisen from these poor lending practices from the bottom up. Every facet of our operations at every stage of the supply chain have been reviewed to ensure that we comply with ethical principles, giving preference to ethical and eco- friendly companies in our dealings.

Our working environment has been carefully chosen with environmentally friendly strategies in mind to including small touches like big open windows to let in plenty of natural light and for our staff. Recycled paper is used, but most work is online and rarely hits the printer, where we use the double-sided option when ever possible. We have an internal recycling programme to ensure that no sheet of paper goes to waste.

We put into practice lessons learned from the poor credit environment spanning back to 2007/08 and ensure policies emphasise dealing with people in a friendly, kind and ethical manner. Our anti-discrimination policy works to respect the dignity of all people with whom we deal, including our own employees, business contacts and clients. Behind the scenes, we do not discriminate on the basis of parental status, race, religion, sex, weight, outward appearance, marital status and ensure that we are always friendly when interacting with people on the phone and the net.

We acknowledge that every single person is different, and has an individual set of circumstances. If applicants need additional assistance in working through application forms or explanations, we are there to work with them. It may be a New Australian finding our English language difficult or difficulties understanding finance in general. We are all trained to be patient and skillful to get you the loan that you are after as we understand that you have not necessarily been the cause of your circumstances or you are looking for growth opportunities that require temporary financial support.

1 Ullmer M, 2 July 2008, Bridging the Gap – Improving levels of financial literacy and
dealing with financial exclusion, ABA’s Financial Literacy Summit, Broadening Financial Understanding, retrieved 14 July 2008

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