Purple Shoots

🚀 We are proud to announce the release of our 2024 Impact Report! This comprehensive report showcases the progress we’ve made in empowering individuals and communities through our lending programs. 🪴Key highlights include ⬇️ 📈A significant increase in loans provided, fostering economic growth. ✨Inspiring success stories from our borrowers and self reliant groups, illustrating resilience, growth and innovation. 🤝Our commitment to sustainability and community development. We invite you to dive into the full report and see how we’re making a lasting impact together. 🗞️Read the full report here: https://lnkd.in/e6DFnzk2 #ImpactReport #EconomicEmpowerment #PurpleShoots #CommunityImpact #Legacy #SelfEmployment #SelfReliantGroups Responsible Finance British Business Bank #ImpactInvesting

🤩Have you ever dreamed of running your own small business but felt overwhelmed by the complexities? "Starting Something with Nothing" is your guide to starting a business without all the jargon! 📖This practical, easy-to-follow book gives you the step-by-step advice you need to launch your business, no matter your current situation. “Starting a business is a life transforming experience – if that is something you long to do then read this book!” — Matt Bird, Founder of NAYBA “If you want to start a business I highly recommend you read this book, apply its lessons, and use it to support others in a meaningful way.” — Julie Hawkins LLB (Hons) “Starting Something with Nothing gives great no-nonsense advice, easy to read, straightforward common sense.” — Steve Jones 💡Ready to take the leap? Reading this book could change your life! 💷Available to buy here➡️ https://t.ly/w_ZkX Order now and get it just in time for Christmas! #BusinessAdvice #StartYourBusiness #Entrepreneurship #PracticalGuidance #StartingSomethingWithNothing #BusinessJourney

Starting a business takes courage—and funding. Sheffield Credit Union, in partnership with Purple Shoots is here to help. Our business loans range from £500 to £5,000, with terms from 12 to 36 months. We understand you’re More Than A Score. That’s why we’ll collaborate with you to offer a loan that aligns with your goals and supports your business plan. If you’re ready to take the next step in building your future, we’re here to help. Let’s make it happen. https://lnkd.in/d4X4ibVK #businessloans #Sheffield #purpleshoots #morethanascore #businessplan #localSheffield #entrepreneurs #SheffieldCreditUnion

🎄Thanks to Zokit for letting us bring all these wonderful Christmas goodies to their Christmas networking event at Bizspace in Cardiff this week! Lots of lively last minute presents for sale!

🌟 Why I think Purple Shoots is unique in lending: A venn diagram story 🌟 At Purple Shoots, I think we occupy a unique space in the lending ecosystem—where enterprise, personal, and social lending overlap. Think of it as a Venn diagram with Purple Shoots right in the middle! Here's why: 1️⃣ Enterprise Lending: We’re here for those who want to establish a business but have been told "no" by every other lender. Why? Because traditional lenders often judge people solely on credit scores and financial history, not as humans with ideas, determination, and the potential to thrive. At Purple Shoots, we see you—not just your credit file. We've supported some incredible businesses run by incredible people over the years! People like Julie Hawkins LLB (Hons), Trevor Palmer and Ada Uchegbu (to name but three who I know are on LinkedIn!) 2️⃣ Personal Lending: We operate with a personal loan for a business purpose under a Consumer Credit Act license, which means our lending practices are rigorously regulated and built on a solid foundation of affordability. This allows us to evaluate personal circumstances alongside business cashflow projections, ensuring that every loan is both ethical and sustainable. 3️⃣ Social Enterprise & Charity Lending: We proudly support incredible social enterprises and charities that struggle to access funding elsewhere. These are the organisations making a tangible difference in communities, and we are committed to being their ally. Andy Freeman of Space to Breathe CIC is one such social enterprise we have supported with a small loan. Now, let’s talk about the Growth Guarantee Scheme (GGS). This scheme, designed to enhance access to finance for UK SMEs, provides lenders with a 70% government-backed guarantee for loans up to £2 million. A noble idea in theory, but here's the kicker: The list of beneficiaries includes (alongside the brilliant Responsible Finance Enterprise Lending CDFI's!) - Barclays, HSBC, Lloyds, NatWest, Santander, and Virgin Money—the same institutions with a history of government bailouts, continued investments in planet killing fossil fuels despite climate commitments, and investment in weapons manufacturing, and who actually make a huge percentage of profits from their customers through charging fees on overdrafts and missed payments... Conversely, Purple Shoots, as a micro-lending CDFI that gives life to businesses no one else will support (with loans capped at just £5,000), cannot gain GGS accreditation, and receives nothing in government support! Why are we, as a high-impact, values-driven lender, struggling to raise the capital we need to support more people, when accreditation for the GGS could transform us? It would enable us to: De-risk investments, offer even more favorable terms to borrowers and scale our support for even more businesses and charities. Riddle me that. 🤔 We believe in lending that’s human, ethical, and community-focused. If you do too, I'd love to talk! 💬

💷This Giving Tuesday, consider making a monthly donation to Purple Shoots to allow us to continue to support entrepreneurs across the UK and see them thrive in the years to come! 💗Entrepreneurial spirit is at the heart of what we do and we are proud of our track record of supporting local communities through our work with self reliant groups and micro loans for businesses. 🔗To make a monthly donation, head to https://lnkd.in/eHs4pncc ✨Your financial support will allow us to continue tackling poverty, unemployment, financial exclusion and social isolation through enterprise! Other ways you can support us ⬇️ 📫Sharing this post with your network 🤝Volunteering with us 💷Joining our financial investment program For more information, head to https://lnkd.in/dAH-4i3S #Donate #GivingTuesday #SupportCommunity #TacklePoverty #Enterprise

Last month, Stuart Rostron represented Purple Shoots as part of the official launch of the latest Growth Hub in Gloucestershire- Cheltenham... his home town!! 🏆"So nice to see so much investment and support in our town's talented start up businesses. Always nice to hear Ian Mean MBE, Director of Business West provide such a positive outlook on the County's thriving businesses and the prospects for our many start up micro businesses. Cannot wait to offer Purple Shoots support to those micro businesses." 👏👏We love to see the ways that micro businesses in Cheltenham are thriving and we can't wait to support more of this in the future.

It’s always been so difficult for investors and finance people generally to get any realistic focus on the lowest end of society’s business. Most of the finance industry and indeed most of the support out there emanates from those who have been successful and have either forgotten or have never been in a position where they have no capital at all, have no experience of business planning, have nothing to offer except a desire and ambition to dig themselves out of a hole that they usually had no part in creating. When you have been cast into the depths, everything works against you and to find help (at last) from people like Purple Shoots after so many put-downs and rejections is like the sun coming out on a dark and gloomy day. If there is the spark of something there that we can help turn into a little business the ramifications go far and wide. A few have realised, most have not. Get behind Purple Shoots with any help you can!

✨ A Historic Day for CDFIs, but the Job’s Not Done ✨ Today’s announcement of these fantastic initiatives is a real milestone for the CDFI sector. The £150m Community ENABLE Funding Initiative and £4m Capacity-Building Programme are a huge step forward in supporting underserved businesses and recognising the vital role CDFIs play in driving inclusive economic growth. At Purple Shoots, we’re thrilled to see this progress. But we can’t help reflecting on the gap that still exists for many businesses—particularly those needing loans under £25,000. These are the sole traders, microbusinesses, and community-led enterprises that form the heart of our economy. Yet, they’re often overlooked. Last year, more than half (55.5%) of our borrowers had been turned away by other lenders, including the Start-Up Loan Scheme. We know that 28% of Start-Up Loan applicants are rejected outright. That leaves a significant number of entrepreneurs with nowhere to turn. This is where Purple Shoots steps in. But the truth is, as of today, we have 10 loans ready to go—loans that could change lives, create jobs, and spark growth in our communities. And yet, we simply don’t have the lending capital to meet the demand and disburse the loans. While we celebrate this incredible news for loans above £25,000, we also want to shine a light on the need for funding at the smaller end of the spectrum. Microbusinesses and sole traders are small businesses. They deserve the same opportunities to thrive. We’re committed to filling this gap, but we can’t do it alone. We need the backing of partners and funders who believe, as we do, that every business—no matter how small—deserves a chance. 💜 Let’s celebrate this momentous day while continuing to work for a system that truly works for everyone. #CDFIs #Microbusinesses #InclusiveFinance Responsible Finance #SocialInvestment #ImpactInvestment Fair4All Finance British Business Bank

So good to have this independent affirmation of the value of what we do - and a recognition that work like this is unique, essential and needs financial support! I was so grateful to Professor Olga Biosca for coming and speaking at our event!