We are Comuno
To understand what we do and why we exist let's take you on the journey millions of UK consumers currently undertake when searching for a loan.
So you need a loan. Where do you start?
Your Bank or Highstreet brand
You apply for a loan. If you have a pristine and well-documented Credit History the likelihood is you'll get your loan and it's a very straightforward process.
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But for almost a 1/3 of the UK population this is not the case.
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...so next stop
You type in loan related search terms and are presented with your search results, made up of direct lenders and loan brokers (this includes comparison sites).
Use a comparison site
Having already been declined by your bank you decide to use a comparison site or loan broker to check your eligibility with a panel of alternate lenders. Good move.
Receive your results
Depending on the size of loan you're looking for, your current circumstances and your credit history your results will vary. For those already excluded from mainstream finance, options (if any) will likely be limited and very expensive.
...Community Finance needs be an option.
It's these customers, that without knowing it, are searching for Community Finance options. But they aren't finding them.
Comuno exists to make this happen.
The Mission: To build the profile of the Community Finance sector and enable socially-led and affordable loan providers to get in front of customers searching for credit online.
...but who actually are
We're a small team based in Bournemouth (UK). Collectively we've worked in the online financial services industry for decades. Building and running some of the largest lenders, comparison sites and loan brokerages in the alternative loan space.
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We've seen firsthand, literally millions of customers that could have benefitted from Community Finance. If only they were presented it as an option.
We understand what is required to get these options in front of customers, but also what Community Finance Providers need to make servicing them a reality.
We're on a mission to do it.