Clifford Chance has advised UniCredit Bank pro bono in the successful launch of a microfinance loan facility for Fair Finance. Clifford Chance and UniCredit Bank teamed up to support the London-based non-profit organisation Fair Finance. Fair Finance provides loans and debt advice to customers who would otherwise be unable to access mainstream sources of finance, thereby providing socially responsible access to necessary loan finance.  Fair Finance was founded by Faisel Rahman, who is a pioneer in the UK microfinance industry, where he has been active for over a decade.

The financing allows Fair Finance to expand its microfinance activities from personal loans to loans for small businesses. This transaction is an integral part of a wider fundraising by Fair Finance from social and individual investors. The financing is further supported by a microcredit guarantee from the European Investment Fund under the European Progress Microfinance Facility.

"Access to Finance" is an integral part of Clifford Chance's Corporate Responsibility strategy. Clifford Chance is delighted to have collaborated with its long-standing client UniCredit Bank on this initiative, contributing to Fair Finance's mission to ensure access to finance.

The Clifford Chance team was led by partner Loren Richards and comprised senior associates Andreas Seip and Dr. Katja Lehr as well as associate Lauren von Dornberg (all Banking & Capital Markets, Frankfurt).