Second funding partner announced!

Soul Capital is backing Money Sweetspot!

"We're stoked to be investing in their awesome work crowding out predatory lenders and supporting those whom our financial system ignores."

Why they're supporting us

Jamie Newth explains more below:

Money Sweetspot is a social lender. They pull whānau out of a high-cost debt spiral by offering a financial reset with a lower-interest debt consolidation loan. They link financial education and community donations with repayment of debt. Co-founder Sasha Lockley’s own life experience informs Money Sweetspot’s kaupapa. She talks about how bad things can happen to good people and how predatory lending compounds that.

So... we’re providing a million dollars of loan finance to Money Sweetspot to offer loans supporting Māori and Pasifika communities in Auckland and Northland to do a financial reset.

A loan from Money Sweetspot will help people consolidate their unsustainable debts. Many people they help are being charged interest rates upwards of 30%.Lenders aren’t known for wanting to lose their customers - more people and more debt is often their focus. 🤬 Money Sweetspot’s sole focus is to lose their customers as quickly as possible. 🙌

By refinancing, people can consolidate their debt, and get their financial lives back on track with the help of Money Sweetspot’s mix of financial literacy education and support for their clients. By staying on track their customers also get to donate to causes they care about. Increased capacity for generosity in a journey out of debt.

Money Sweetspot have only been operating for a year. But already, in that time frame, they’ve helped people to go from a lifetime of debt to buying a home. Money Sweetspot are proving what's possible within the ethical finance space - real work with our communities... not just vague ideas discussed around the board table. So, we're stoked to be investing in their awesome work crowding out predatory lenders and supporting those whom our financial system ignores. Sasha and Meurig Chapman, thank you for your pioneering work - without people like you Soul Capital and our Te Pae ki te Rangi Fund (with Foundation North) is just an idea.  You make our purpose possible!

Why we're stoked with their support

Sasha says

“Providing funding to a finance company that has been open for just over a year takes courage and a belief that there is a better way to support whānau with their financial Iives. This funding means we can support more whānau out of debt, where the impact speaks to wellness and hope, beyond their current situation.”

‍Centrix published that 439,000 New Zealanders are currently behind in their lending facilities. We’ve been able to help 450 so far.It takes an eco-system to make change.

An eco-system doesn’t exist without people.

People need to be courageous.

To acknowledge that the status quo is intolerable and unacceptable.

If you would like to support our mission to reach our next 450 whānau we would love to hear from you.