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#1 2013-01-18 07:42:16

Ashman
Silver Stacker
From: Brisbane
Registered: 2012-10-20
Posts: 101
Trades :   28 

Bank Of Dave

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.

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.

Last edited by Ashman (2013-01-18 07:43:04)

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#2 2015-05-02 07:09:54

House
Moderator/ Legend
From: Stack City
Registered: 2012-04-30
Posts: 9,643
Trades :   232 

Re: Bank Of Dave

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.


WBI- 41.16

"There's no point in paying a mortgage on an asset that is going to fall by 40 per cent or so in the next few years". Steve Keen, 2008.
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