What is an affinity loan?
An affinity loan is a personal loan that is associated with a particular, often charitable, cause. A donation is made to the charity when you are issued with the loan and a small percentage donation will also go to the charity for every transaction you make on the loan. Many companies and organisations form an affinity deal with a major loan provider, as they do not have the resources or expertise to launch their own product, but want to offer the service to their customers. An example might be a football club wanting to offer personal loans to its fans.
