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The Iceland zero-interest loan scheme is “not a silver bullet” for families battling food poverty, according to Simon Dukes, the CEO of Fair For You – the ethical loan company which has partnered with Iceland for the initiative.
The scheme, which is only available to families on a low income, will provide customers with small loans ranging from £25 to £75 to help them bridge the gap in income over the school holidays.
Dukes exclusively told Grocery Gazette the zero-interest loans are targeted at individuals and families who “have difficulty” getting mainstream loans as a result of “poor credit files”.
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