--- title: "Affordable financial services products: No Interest Loan Scheme (NILS) and innovative affordable finance solutions" ocid: "ocds-h6vhtk-02fc01" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02fc01" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-02fc01.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-02fc01.json" source: "Find A Tender Service" current_stage: "Tender" buyer: "FAIR4ALL FINANCE LIMITED" published: "2021-12-01" --- # Affordable financial services products: No Interest Loan Scheme (NILS) and innovative affordable finance solutions Buyer: FAIR4ALL FINANCE LIMITED Current stage: Tender OCID: ocds-h6vhtk-02fc01 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02fc01) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-02fc01.json) ## Summary The procurement process is initiated by FAIR4ALL FINANCE LIMITED, which is seeking partners to develop and pilot affordable financial services products under the No Interest Loan Scheme (NILS). This initiative is classified under the financial and insurance services category and comprises various geographic lots across England, Northern Ireland, Scotland, and Wales. The current procurement stage is 'Tender', with a submission deadline of 14 February 2022, and the contract period can last up to four years with options for extensions dependent on funding availability. This tender presents significant opportunities for businesses engaged in the financial services sector, particularly those with expertise in innovative credit solutions and social finance initiatives. Companies that specialise in accountable lending, affordable insurance products, or financial tools aimed at low-income households would be particularly well-suited to respond. The strategic aim of this project is to create a more equitable credit market in the UK, making it beneficial for organisations that prioritise customer-centric finance solutions. ## Notice We are seeking partners to co-design, pilot and then scale up innovative affordable finance products targeted at people in vulnerable circumstances. The first pilot is a no interest loans scheme to be delivered in six locations across England, NI, Scotland and Wales. The Treasury backed NILS pilot is an opportunity to improve credit provision for customers who don't currently have access to a fair credit option who are excluded from credit because of they cannot afford the interest and the principal, but could afford principal repayments; or who do not meet lending criteria for other reasons but where there is a societal benefit to lending to them responsibly. Equivalent services have been in place internationally for a long time but no scaled provision exists in the UK. We hope that the pilot results in a positive set of outcomes for customers, and also for the partners who help to deliver the programme. One of our objectives for the pilot is that it strengthens overall affordable credit provision in the UK. Bid opportunities are divided into geographic lots with options to bid for more than one lot or all lots. We are also seeking partners to work with us on wider innovative product development initiatives leading to pilot implementation and scaled up delivery. This is covered in a separate lot, initially focussed on England, but with the option to be extended beyond. This may encompass the development, piloting and scaling of: Solutions tackling problem debt Solutions tackling appliance poverty Insurance products specifically designed for low income households Savings products and credit builder products Alternative and fair versions of buy now, pay later (BNPL) lending Revolving credit products or ethical overdraft products Car financing and other products to enable economic livelihood to improve Hire purchase or conditional sale products Fair and accessible credit cards Other lending products which may also be coupled with complementary products eg savings, credit builder products, insurance offerings and more. Therefore, we are seeking partner organisations who share the vision of a credit market which can provide a fair and affordable option for all customers. Stringent tests are included in our procurement about bidders track record with the customers we are targeting and their commitment to delivering these contracts within the interests of the customer coming first. The contracts are set up to be capable of being extended for a further 5 years after the initial development and piloting period and these extensions are dependent on our funding partners contributing beyond the initial term and would be entered into by mutual consent. ### Lot Information Lot 1. Wales Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 2 - Scotland Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 3 - Northern Ireland Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 4 - England - London (A) Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 5 - England (Any location) (B) Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 6 - England (Any location) (C) Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 7 - All three English Locations (A-C) (should include London) Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 8 - All geographic lots 1-6 covering all four locations and smaller loans delivered nationally Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. Lot 9 - Future innovative affordable finance solutions Please see details contained within the procurement documents. Additional information: Please see details contained within the procurement documents. Options: Initial development and pilot period expected to be maximum of four years including evaluation. Contracts can then be extended for up to five years in one year increments by mutual consent where further funds become available to enable the pilots to be scaled. ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/029856-2021 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 1 Dec 2021 | | Submission deadline | 14 Feb 2022 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £90,000,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Active | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | FAIR4ALL FINANCE LIMITED | | Locality | LONDON | | Post town | East London | | Postcode | E1 6LS | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI4 Inner London - East | | ITL 3 | TLI42 Tower Hamlets | | Local authority | Tower Hamlets | | Electoral ward | Spitalfields & Banglatown | | Westminster constituency | Bethnal Green and Stepney | | Delivery location | TLC North East (England), TLD North West (England), TLE Yorkshire and The Humber, TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLI London, TLJ South East (England), TLK South West (England), TLL Wales, TLM Scotland, TLN Northern Ireland | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 1 Dec 2021 at 17:19 - TenderUpdate - Tender Notice - https://www.find-tender.service.gov.uk/Notice/029856-2021 - 1 Dec 2021 at 16:06 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/029835-2021 ## Notice URLs - http://www.fair4allfinance.org.uk - https://fair4allfinance.marketdojo.com/users/current_opportunities ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-02fc01. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-02fc01.json.