The People's Bank
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The People's Bank
The People's Bank aims 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 socialise their benefits, rather than enriching the General Manager, private investment has been historically unavailable. The People's Bank sets out to change this.
From Communes, where the majority of the produce made is gifted back to the workforce, Producer Co-operatives where the profits of the business are split between its workers, Supplier co-operatives, where produce is sold marginally above cost of production for the benefit of the consumer, to Low Profit/High Wage enterprises, where the proceeds of business are fairly shared with the workforce - the People's Bank is here to enable the growth of these businesses. The People's Bank offers highly competitive loans for the start-up, or Quality upgrading of these enterprises. Where private banks generally offer loans with a standard 15% interest rate over the period of a month, the People's Bank offers a low 5% interest rate over an extended period of up to two months. This works out as: for every 20G loaned out, 1G will be 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. Our competitive interest rates and long repayment periods ensure that loan repayments do not compromise the social nature of the enterprise.
The People's Bank offers these benefits to socialist entrepeneurs on the basis that the business will be run according to the stated principles. The loan contract will include specific requirements to be met by the business, negotiated beforehand, to ensure that People's Bank funds are used for their express purpose: to socialise the benefits of enterprise. So, if you are looking towards setting up a social enterprise in the eUK, send the People's Bank a PM outlining your plans, and we will soon be in touch.
