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https://reasonstobecheerful.world/the-supermarket-lending-shoppers-money-for-groceries/>
"Food costs in the UK are rising at an alarming rate. One research firm
predicts the average annual household shopping bill will be nearly $800 (£643)
higher this year. A recent survey by food poverty charity The Food Foundation
found half of the country’s households are purchasing fewer fruits and
vegetables, which have seen marked price hikes. And almost 10 million adults
and four million children are food insecure, meaning families are skipping
meals altogether.
In a bid to help those who find themselves in hardship, UK supermarket chain
Iceland Foods is offering small interest-free loans to help people buy
groceries. The microloan program, called Iceland Food Club, could relieve
pressure on the country’s food banks — which are unable to meet demand — and
increase borrowers’ access to the fresh produce often lacking in
nonperishable-focused donation boxes.
The Club is designed to help families spread out the cost of food over a few
months. Microloans of £25 to £100 (US$30-120) come on pre-loaded cards that can
be used in any Iceland store or its bulk shopping brand, The Food Warehouse.
The loan scheme was developed in partnership with Fair for You, a charity-owned
ethical lender that offers low-income Britons an alternative to predatory loans
with exorbitant interest rates. According to the organization, their customers
are mostly women with children who live in social housing. Many borrowers have
a family member with a disability or critical health problem.
Starting in 2020, Fair for You trialed the loans over 18 months with 5,000
families in Wales, Yorkshire and northwest England. Positive results led
Iceland to announce in August it would expand the program throughout the UK."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
