Bank Of Dave

Ashman

Ashman

Active Member
Silver Stacker
It's not gold related, but I thought some people here might also find it interesting.

Bank of Dave follows one man's efforts to try and revolutionise how people bank. With the global financial system is in a mess, customers are feeling short-changed and small-business owners are struggling to secure loans to help their businesses. David Fishwick believes that he can do a better job than the high-street banks and he plans to open his own small bank in the Lancashire town of Burnley and make it profitable in just 180 days.
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Wiki link to the page on the actual bank itself:

http://en.wikipedia.org/wiki/Burnley_Savings_and_Loans

I liked it and recommend watching it.
 
Only just heard about this, incredible story.

t was set up in 2011 by Dave Fishwick, who felt that the current banking system was corrupt and needed change; he felt they weren't lending enough money to people or small businesses that needed a kick-start to get going, and that the rate of interest for savings was too low. As such, Fishwick decided to use an above-market 5% AER. All profits after overheads are given directly to charity. The business does not credit score and uses a common sense approach to underwriting all applications. In July 2012 it was reported that 0.5 percent of loans were in arrears.
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