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Bank of Dave in Burnley

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Bank of Dave in Burnley

Post  Panda on Thu 19 Jul - 22:09

What a wonderful story I have just watched on Channel 4. This Guy Dave had the idea of setting up a Bank, had to go through all sorts of obstacles
to be able to get a Licence but eventually overcame them. He canvassed people in the Street to open an account promising 5% interest. People
became interested and opened accounts with small sums which Dave lent out with interest to small ventures in the Area which grew as a result. More and more people opened an account, not just for the interest, but they admired what he was doing.

After the first year 98% of the people who borrowed money had repaid the Loan, bank Customers were happy withh the interest they were getting and Dave went around various Charities and deserving causes giving people £2,000 each from the profits the Bank had made.

I hope this simple idea catches on.

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