Social lending

Social lending is intended for people with a low income and limited assets who have no other possibility of obtaining credit on reasonable conditions, for example, due to a payment default entry or the lack of collateral. Social lending aims to prevent financial exclusion and over-indebtedness as well as to promote independent finance management. It does not affect the possibility of receiving social assistance. However, to obtain the loan, you must have the ability to pay the loan back in the future. In granting the loan, the applicant's income and expenses, assets, debts and earning opportunities are all taken into account. An agreement will be drawn up for the loan and its repayment. Fulfilment of the agreement will be monitored. Additionally, social lending includes financial advice and guidance throughout the payment scheme (6 months - 5 years). Social lending is a form of credit that is provided by the social services as a part of social welfare. Social lending is based on the Act on Social Lending (1133/2002) and the Act Amending the Act on Social Lending (956/2022).

Conditions for receiving the Service

- Social lending is intended for people with a low income and limited assets who have no other possibility of obtaining credit on reasonable conditions, for example, due to a payment default entry or the lack of collateral. - In granting the loan, the applicant's income and expenses, assets, debts and earning opportunities are taken into account. - To obtain the loan, you must have the opportunity to repay the loan in the future. - Social lending is a form of credit that constitutes a part of social welfare and is provided by the social services. Social lending is based on the Act on Social Lending (1133/2002). - Social lending does not affect the possibility of receiving social assistance.

The service is free of charge.