Stagnant wages and increasing inflation means that household budgets are being squeezed, with more families racking up unsecured debt. High, noncompetitive interest rates offered to the most vulnerable families can lead to further pressure and becoming stuck in a cycle of debt. But inclusive, accessible lender Street UK is offering an alternative that on average saves customers £269 against a high cost lender.

The latest figures from the Bank of England show that UK households have more than £200 billion of debt on credit cards, car finance, overdrafts, and other loans. The average family has less than £100 in savings, pushing them into debt when unforeseen expenses crop up and research from Street UK shows that a significant proportion of the population can’t access the fairly-priced financial services they desperately need.

Reflecting on Street UK’s Social Impact Report, the CEO, Kashaf Ali, said, “Families that are on low incomes or benefits typically can’t access the financial solutions they need at short notice. The ‘poverty premium’ they face is shocking and leads to a vicious cycle of paying disproportionally high interest rates that make getting out of debt far more difficult. These extra costs add up to £490 per year on average, a considerable amount when household budgets are already facing pressures from rising bills. It’s an inclusive issue Street UK Foundation set out to address and those that are financially excluded save on average £269 compared to the market leader by choosing to come to us.”

The unique service provided at Street UK combines affordable loans with advice, helping more families to improve their money management. It’s a growing operation that’s having a positive impact on customer’s lives. Half of customers agree the loans have had more than just an effect on their finances, helping to relive stress, boost self-esteem, and get a better grip on their money. Three in five customers took advantage of the additional support the organisation offers to access useful advice on budgeting and 78% of Street UK customers agree that their loan has helped to improve their credit score.

Kashaf added, “Our flexible solution understands that many people need access to a quick loan that’s ethically designed. Typically, our small-sum loans are used for essential household goods, rental deposits, and seasonal expenditure, and thanks to our service more people can get the affordable finance they need to fund these areas.”

Street UK also trades online under the name, Track Loans. Set up in 2016, Track Loans provides affordable short term loans at interest rates that only cover the cost of providing the service. It is an alternative to high-cost short-term credit (HCSTC) lenders who charge the highest permitted interest rate under the FCA price cap to maximise profits.

Street (UK) CIC, which is a subsidiary of Street UK Foundation, is a not-for-profit organisation that uses the money generated from the interest on its loans to cover the cost of providing the service and improve its products and services.

To download the latest Social impact Report visit:

To find out more about Street UK visit

Download as PDF| Report this press release



A charity that provides back-office services to financial institutions and affordable short-term loans via @StreetUKLoans @TrackLoans.