Helping small businesses to grow - a story
From an article by Purple Shoots
Purple Shoots is a not-for-profit micro finance organisation and a registered charity based in a church in Cardiff.
They help individuals in two ways:
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Through finance. They provide small business loans at fair rates, especially to those who find it hard to obtain credit. They have a track record of helping people who needed a hand up, not just more hand outs. and we have made a real difference to many people’s lives.
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By creating self-reliant groups (SRGs). They provide a place to get together with other local people and learn new skills. Sharing ideas, saving and making money with other people. Take back control over your life and make better opportunities for yourself, your family and your community.
For every £1 lent they have created £10 on economic impact - £16.2M over 8 years, in 650+ businesses, generating employment for over 700 people.
Here is the story of one business owner, Clyne Lewis of C Lewis and Sons who has a handyman removals company.
Clyne started the company in 2019 with just one van which supported the family and repayments on the van. He needed funding to expand to the next level. He found it very difficult to get money. Someone suggested he contact Purple Shoots and he met up with them and showed them his Facebook page and all the requests he was getting for jobs.
Purple Shoots agreed to lend him the money which meant he could go and get another van. This meant he was not reliant on one vehicle to do house moves, rubbish moves, landscaping clearances, etc.
Purple Shoots constantly kept in touch to see how things are going and to see if there are any further needs. They have helped build his confidence when no-one else would help. Now Clyne has three vans and is looking to buy a fourth. He employs up to six people depending on jobs.
Watch this 3 minute video:
Purple Shoots rely on donations and investments from individuals, foundations and companies to fund these opportunities. The impact is obvious.
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From an article by Purple Shoots, 21/10/2020