Purple Shoots Business Lending Ltd

Purple Shoots Business Lending Ltd

Charity information

Purple Shoots Business Lending Ltd

Purple Shoots is a small microfinance organisation which tackles poverty and unemployment in Wales through encouraging entrepreneurship, independence and self-reliance. This is achieved through the provision of small, easily accessible loans to those who are unable to access finance from other sources. This provision enables them to set up and grow their own businesses, and through the development of self-reliant groups, moves those struggling with unemployment towards income generation

Founded 2013

  • Mission statement

    Purple Shoots lends largely to the most disadvantaged in Welsh communities to enable them to start or grow small businesses. These businesses are the means through which their borrowers escape from poverty and disadvantage. The loans provided are characterised by:
    1. Realism – they are offered with a reasonable expectation that they can be repaid
    2. Affordability – interest and fees are charged but are kept as low as possible
    3. Flexibility – lenders can allow for unforeseen changes, especially as this client group are particularly vulnerable.
    Purple Shoots believes that each client is unique and with their own individul potential. A small loan at reasonable cost is sufficient to enable borrowers to realize their potential and use their skills which are otherwise wasted in unemployment. This client group are largely unserved by mainstream finance providers and often their only option for finance is to turn to high cost, sometimes even unregulated lenders. Through this lending, Purple Shoots is providing finance to a large client group which includes small businesses and self-employed people and those at the bottom end of the UK economy, all of whom struggle to find funding from anywhere else, and helps transform the lives both of those who borrow from them and the communities in which they live.

  • Aims

    Purple Shoots Business Lending Ltd aims to:

    • To tackle poverty and unemployment through the encouragement of independence through small business and income generation
  • Overview

    Established: July 2013

    Registered Charity Number: 1155385

    Board members: 3

    Full time staff: 1

    Volunteers: 2

    Phone number: 07726 599267

    Address: 2 Le Sor Hill CF5 6LW

    View charity accounts on the Charity Commission website
  • Developing more Self-reliant groups

    The aim is to help people grow or rebuild their confidence, discover their skills and tale... More