Moneyline

Moneyline was incorporated as an Industrial Provident Society in 2001 and provides short-term credit and savings accounts to low income households with branches in Northern England, the Midlands and South Wales. They have the largest market share among Community Development Financial Institutions in the UK, and to date have provided over 120,000 loans, lent GBP68m, opened over 25k savings accounts and generated over GBP8.5m in savings deposits.

An investment was made in December 2017 for GBP137k for capacity building and deleveraging their balance sheet as Moneyline needed to have more equity on their balance sheet in order to prepare the organisation to scale.

Structure

Funding provided in equity in the form of transferable shares which is due to their Community Benefit Society legal structure.  The transferable shares pay a discretionary annual dividend and liquidity is solely based on management buying back the shares or a secondary buyer.  The equity instrument was a catalyst in strengthening the organisations capital structure.

Skills support

Through working in collaboration with Moneyline, we recognised that the organisation needed a full time dedicated CFO as well as strengthening their Board. We work closely with Moneyline to further strengthen their capital structure through our market linkages.