The People's Bank
The People's Bank aimed to be the premiere facilitator of socially minded businesses in the eUK, such as Communes and Co-operatives and low profit/high wage ventures. As these business models socialised their benefits, rather than enriching the General manager, private investment have been historically unavailable. The People's Bank was set out to change this.
From Communes, where the majority of the products made were gifted back to the workforce, Producer Co-operatives where the profits of the business were split between its workers, Supplier co-operatives, where products were sold marginally above cost of production for the benefit of the consumer, to Low Profit/High Wage enterprises, where the proceeds of business were fairly shared with the workforce - the People's Bank was enabling the growth of these businesses.
The People's Bank offered highly competitive loans for the start-ups, or Quality upgrading of these enterprises. Where private banks generally offered loans with a standard 15% interest rate over the period of a month, the People's Bank offered a low 5% interest rate over an extended period of up to two months. That worked out as: for every 20 GOLD loaned out, 1 GOLD was recouped in interest to cover running costs such as funding adverts, and to incrementally increase the amount of capital available to fund further social businesses.
The People's Bank offered these benefits to socialist entrepeneurs on the basis that the business will be run according to the stated principles. The loan contract included specific requirements to be met by the business, negotiated beforehand, to ensure that People's Bank funds were used for their express purpose: to socialise the benefits of enterprise.