Responsible lending

CFA members are committed to lending responsibly. They only lend to customers they assess have the ability to repay. They have a range of sophisticated processes to check the applicant’s identity, credibility and creditworthiness. If they did not check whether their customers could repay, they would lend money to every applicant (which they certainly do not – some on-line lenders reject over 90% of applicants) and would go out of business soon after.

All CFA members make it very clear to potential customers that their loans are for short term needs and that they have to be repaid quickly. They are not suitable for longer term borrowing where many other traditional credit products exist. Short term finance is only intended to provide affordable help to borrowers with an urgent or temporary cashflow issue.