Five Lamps reach the finals of the Responsible Finance awards
Five Lamps are a “responsible finance” provider which operates across the United Kingdom and has recently been praised by business experts and an international foundation for its positive impact on the lives of people it supports.
Five Lamps, originally established 30 years ago to support people who became unemployed, provides a wide range of services across the United Kingdom, with the main office based in Stockton on Tees.
In the past year it has provided free breakfasts throughout the school holidays to over 200 young people; helped elderly people to remain independent in their own homes by delivering 1,000 hours of domiciliary care each week; tackled social isolation by running youth clubs including for young people with disabilities, and lunch clubs for elderly people; and provided over 7,000 loans to customers who may have previously relied on door step lenders or loan sharks, saving them hundreds of pounds each in interest.
At the beginning of the year, Five Lamps was named one of the community development finance providers making the most impact in the whole of the UK in the Citi Microentrepreneurship Awards, funded by the Citi Foundation.
Although Five Lamps were not crowned winners at the online award ceremony on 9 July 2020, they were awarded with a £1200 grant to enable them to continue the great work they deliver.
Judges including journalist James Pickford of the Financial Times, were impressed with Five Lamps’ positive impact in communities including many facing high levels of deprivation. They noted how the organisation’s work to measure its impact has also helped to identify areas where its service users may need additional support or help.
Lisa Pickard, Five Lamps’ Group Chief Executive said;
“We are so proud to be a finalist in the Impact category. All of our work is underpinned by our vision at Five Lamps ‘Creating Possibilities: Improving Lives’ – we create possibilities by being locally focused, innovative, on the front foot, determined & resilient. By delivering positive actions and interventions we improve lives – the two go hand in hand together to create an impact for the people who access our services each day and it’s great to be recognised!”
Bob Annibale, Global Director, Citi Inclusive Finance and Community Development, said:
“Responsible finance providers like Five Lamps provide a lifeline and I’ve seen first-hand the difference community-based lending can make to people’s lives and local communities. The economic activity generated can tackle inequality and promote inclusive growth in communities.”
To find out more about Responsible Finance, please click here.