Sydney, NSW -- (ReleaseWire) -- 02/19/2014 -- The Fair Loans Foundation is extremely pleased to announce the launch of the David Liddiard Group - a 100% privately owned Indigenous company that signals a massive leap for Indigenous businesses in Australia and is a fitting outcome for a man who is a respected and well known, passionate advocate for Indigenous Australia.
David, a former first-grade NRL player has been recognised for his services to indigenous youth, sporting and employment programs in the recent Australia Day awards and was awarded an Order of Australia Medal (OAM) in the general division.
David has been working closely with the Fair Loans Foundation to actively close the gap of financial exclusion between Indigenous and non-Indigenous Australians.
Fair Loans provides personal loans with fair interest charges to the Indigenous community and also assists them to establish a credit history which may enable them to gain financial inclusion to main stream financial services.
Fair Loans bridges the gap between the mainstream finance providers and the predatory/pay day lenders, who until now have had free rein to target those in the community excluded from access to basic financial services.
The partnership with Mr Liddiard is one of the initiatives that Fair Loans has been deploying as a part of the Australian Government's Community Development Financial Institutions pilot, which aims to improve the financial knowledge and resilience of vulnerable individuals and their families. This pilot was established by FaHCSIA and is now managed by the department of Social Services headed by Federal Minister the honourable Kevin Andrews MP.
The long term vision that Fair Loans and Mr Liddiard are working towards is to build a sustainable social enterprise that can, over the long term, rely on its own revenue to be viable and use what profits it generates to put back into the local community.
- Managed by Indigenous people for Indigenous people
- Improving financial literacy and credit options for all Indigenous Australians
- Helping Indigenous Australians move away from predatory lending
- Providing a sustainable model for training and employment
- Linking with local Indigenous communities
With David's guidance Fair Loans has set up an Indigenous Money Mentor (IMM) who has been offering an outreach service in Western Sydney. The IMM provides a referral and education service within an urban indigenous community to raise awareness that there are alternatives to predatory lenders.
Fair Loans CEO Justin Hatfield says 'Since the role was established we have had significant increase in the number of applications from Indigenous Australians.
We have set up an outreach centres at various community hubs where Indigenous applicants have access the internet and IT facilities to complete their applications.'
This service has a number of ancillary benefits, 'As well as assisting them in gaining finance, having access to these facilities will improve their computer literacy by requiring them to have an email address (often for the first time) and lodge their documentation online' he says.
The launch of the David Liddiard Group will provide corporate Australia with opportunities to work in partnership with a commercial vehicle for social change assisting communities to secure a positive future for Indigenous young people and their communities.
He says that 'Corporate Australia has demonstrated the desire to engage with Indigenous Australians, but has been reluctant to embrace Indigenous businesses in their contracted work and supply chain.'
'For true Indigenous economic independence and prosperity equal to that of other Australians, there must be a successful Indigenous economy, with vibrant and sustainable Indigenous businesses competing in the corporate sector.' Mr Liddiard asserts.
Dr Jeff McMullen was the MC for the launch. "Indigenous businesses in Australia are growing very rapidly and the relationship between mainstream economies and Indigenous businesses is maturing by the day," he says. "I encourage Corporate Australia to meet the challenge and develop a real partnership with the David Liddiard Group."
For more information please contact: Fair Loans Foundation
About Fair Loans Foundations
Fair Loans is a small loan provider with fair and affordable interest rates. They provide an alternative to pay-day lenders and loan sharks who charge very high interest rates to people who have been refused access to mainstream credit and loans in the past.