UK supermarket Iceland offers loans to help struggling shoppers buy food

Published on: Tuesday 16 August 2022

British supermarket group Iceland Foods will allow shoppers to take out small, interest-free loans to buy groceries, it said on Wednesday, in a scheme targeted at poor households struggling with soaring costs of living. Iceland will partner with non-profit lender Fair For You to offer loans of 25-100 pounds ($30-$121) through pre-loaded cards to financially vulnerable customers, who can make repayments once a week. The scheme comes as UK inflation hovers around 40-year highs, having risen sharply in recent months, squeezing household budgets and contributing to a wave of industrial unrest.

News source: https://finance.yahoo.com/news/uk-supermarket-iceland-offers-loans-094039677.html

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UK supermarket Iceland offers loans to help struggling shoppers buy food