Fredericks Foundation, a UK focused microfinance charity, has been awarded the European Code of Good Conduct for Microcredit Provision (ECoGC) in recognition of its good practices.
The European Code of Good Conduct for Microcredit provision provides a set of standards in terms of management, governance, risk management, reporting, and consumer and investor relations that are common. These standards are for the benefit of customers, investors, funders, owners, regulators and partner organisations.
Fredericks provides small business loans to people excluded from mainstream credit in order to create choice, not charity, and to give individuals the opportunity to transform their lives, and to build a society based on dignity not on handouts.
Following an extensive audit and review process where every aspect of the organisation was tested, Fredericks passed this stringent assessment process and received the award on 4 February 2019.
Duncan Parker, CEO of Fredericks, said:
“We are thrilled to have received this affirmation from the European Microfinance organisation. We strive to provide a great service for our beneficiaries and donors and this will give them much confidence in us as the relationship is one built on trust and integrity. I’m delighted for my team at Fredericks as it’s a huge ‘well done’ recognising both their professionalism and especially their passion, commitment and hard work.”
Fredericks Foundation was founded in 2001 by Paul Barry-Walsh, a successful IT entrepreneur. In the years since Fredericks has transformed the lives of thousands. Fredericks has given entrepreneurs, often with difficult credit histories – unattractive to high street banks – a hand up to start their own businesses, follow a dream, climb out of poverty, look after their families and become economic contributors to society.
Fredericks Foundation has helped create over 1,600 companies and has granted loans of over £5 million.