Fig Loans recognized as “Best For Customers” for 2nd Year in a Row
Posted on: 4 September 2019
For the second year in a row, B Lab has honored Fig with the Best For The World award in recognition of our work to improve the lives of our customers. B Lab is the global nonprofit that certifies and supports Certified B Corporations, which are for-profit companies dedicated to using business as a force for good. Today there are 3,000 Certified B Corporations across 64 countries and 150 industries, unified by one common goal: to redefine success in business.
B Lab awarded Fig Best For The World because we rank in the top 10% of all 3,000 B Corps for our positive impact on our customers. Thanks to our incredible customer service team, we help working-class Americans avoid predatory payday lenders and build credit by offering an affordable loan product with no late fees, no hidden charges and free rescheduling.
“It’s an honor to receive the Best For the World Award from B Lab for the second year in a row,'' says Fig CEO Jeff Zhou. “I’m incredibly proud of our customer service team for taking something as complicated and scary as short term credit and helping our customers understand and learn from the process. Financial literacy begins and ends with financial institutions, and we are so grateful to B Lab for recognizing us and giving us this award”.
Echoing Zhou, the wider Fig team feels strongly about providing a best-in-class product that can improve credit in tandem with meaningful and easy-to-understand financial education to help longer-term outcomes.
“We’re incredibly proud of this year’s Best For The World honorees,” says Anthea Kelsick, Chief Marketing Officer of B Lab. “These inspiring companies represent the kinds of business models and impact-driven business strategies that are building a new economy—one that is inclusive, regenerative, and delivers value to all stakeholders, not just shareholders. To that end, B Corps like Fig Loans are redefining capitalism and showing that it actually can work for everyone.”
Using the B Impact Assessment, B Lab evaluates how a company’s operations and business model impact its workers, community, environment, and customers. To achieve the B Corp Certification, a company must achieve a score of at least 80 points on the assessment. B Corps like Fig must meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corp Certification doesn’t just evaluate a product or service, but also assesses the overall positive impact of the company that stands behind it.
1,000 B Corps from 44 countries were named to the 2019 Best For The World lists, including Patagonia, Beautycounter, Dr. Bronner’s, TOMS, Seventh Generation, and Greyston Bakery. The 2019 Best For The World honorees are determined based on the verified B Impact Assessments of Certified B Corporations. The full lists are available on http://www.bcorporation.net.