Source: Money Sweetspot
A finance company isn’t usually associated with a positive impact on financial health… but Money Sweetspot is no ordinary finance company!
Money Sweetspot is a Kiwi-founded social business offering customers a “financial reset” – a debt consolidation loan along with incentives and rewards for engaging in financial education and staying on track.
Last weekend – just months after its public launch – Money Sweetspot’s impact was recognised when it was named winner in the Biggest Impact on Financial Health category at the prestigious Financial Wellbeing Impact Awards 2023 in London.
The other companies shortlisted in the category were Canada Life, The Lighthouse Company and global giants Vodafone and SAP.
Money Sweetspot CEO Sasha Lockley says the award is confirmation that their innovative approach, linking loans to rewards for engaging in financial education, has real value and impact and that it clearly resonates not just in New Zealand, but globally.
“We’re here to show that you can be sustainable and impactful as a lender; we’re here for Kiwis whose financial juggle has turned into a struggle. Our kaupapa is to offer people a ladder over that wall of multiple debts, then stay on track to pay off their loan so we lose them as customers.”
Money Sweetspot’s investors include the Tindall Foundation, Christian Savings and Anglican Care Waiapu. Money Sweetspot partners with BNZ, which is committed to providing $50 million in no- and low- interest loans and advances by 2024, to promote financial inclusion and improve the quality of life for those that may otherwise fall victim to predatory lending practices.
Sasha is available for an interview this week about the recognition, as well why so many New Zealand families are seeking support from Money Sweetspot, including high cost of living, mortgage interest rates and record rates of lending arrears.
