Purple shoots: loans that grow ideas
- Closes: NA
- Location: Wales
- Status: open
Calling all entrepreneurs, philanthropists – and those with an interest in social justice and the economy...
Purple Shoots is a registered charity based in Pontypridd in the Rhondda Valley. We believe that real change in our Welsh communities begins with recognizing the potential of the people in them and encouraging them to build on that. We do this in two main ways:
1. Offering very small, ethical loans to individuals starting a business who cannot get support from anywhere else.
2. Establishing “self-reliant groups” – aimed at people further away from employment or self-employment, helping them overcome social isolation, and move towards income generation and independence
Purple Shoots is offering finance to businesses in a radically different way, one which is focussed on people’s potential and aims to maximize their chances of success. It is also focussed on those who are excluded from mainstream finance – a high risk strategy but there are stunning success stories from this client group.
We have made 365 small loans since we started 4 years ago, investing over £830k and starting over 300 new businesses. 96% of our loans are to people on benefits, helping them to move off them
Purple Shoots started with a generous philanthropic gift and continues with social and angel investment and some donations. We aim to be self-sustaining and are moving in that direction, but in order to continue our focus on the most disadvantaged and financially excluded, we need a base of regular donations of about £100k per annum.
£100k in annual donations would ensure that Purple Shoots can continue to support this client group. For the majority, the loan or group membership is transformative. Because all the clients start small local businesses, they also have a positive impact on their communities. Using a recognized tool for measuring economic impact, Purple Shoots’ lending, now at over £830k, has had an impact on the Welsh economy of over £8m.
Contact Karen Davies: email@example.com / Tel: +44 (0) 7726 599267
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- Closes On: NA
- Location: Cardiff/Patagonia
- Status: open