Fair finance is a term that refers to anyone who uses the government’s fair lending programs. The term is one that comes up quite often when talking about the topic, and it’s a term that is often used in reference to government-backed loans.
Fair lending is a relatively new concept in the American market, but it is a big topic of discussion in the UK, where the term has been spreading for a long time. It started when people were looking for a way to get money from small businesses. Companies that had a lot of debt got stuck with it, and as the debt grew, the owner ended up defaulting. When that happened, the lender got their money back and were able to start lending again.
Fair lending is a relatively new concept in the United States (it was created in the UK back in the 1970s), but the idea of government-backed loans is fairly old and entrenched in the American financial system. The concept of a government-backed loan is fairly new in the UK, but it was brought to the mainstream by the UK government in the 1980s.