Microcredits from Fiare Ethical Bank against Social Exclusion

  • Andoain Town Council (Gipuzkoa, Basque Country) has signed an agreement with Fiare. Socially excluded citizens, and those in danger of being so, will be able to ask for loans from the ethical bank without the guarantees required by traditional banks.


2018ko otsailaren 15an - 12:44

In the terms of the agreement signed, citizens who meet the conditions will be able to ask for loans of between 600 and 2,500 Euros in order to cover needs not dealt with by social services. Fiare has stated that it will be flexible and, in that way, people who take out loans will have 24 months to repay, and their monthly quota will never be more than 35% of their total debt.

The town council will provide Fiare with funds for these microcredits; the bank will accept and manage the loans; social services' reports will be taken into account.

Sabadell Bank's Money to Fiare

Another town council, Mañaria (Bizkaia, Basque Country), has decided to move the 209,201 Euros it had in the Sabadell to Fiare ethical bank: "We want to make our small contribution to building society", in the words of a council spokesperson.

They have spoken out against large banks' "terrible injustices", including evictions and investing in arms.

They have switched to Fiare because they agree with the ethical bank's values. Fiare's main objective is to make savings available for social, solidarity programmes, giving priority to social progress over economic gain.

 

This article was translated by 11itzulpen; you can see the original in Basque here.


Kanal honetatik interesatuko zaizu: English
2023-01-18 | ARGIA
ARGIA: Worker-Owned Basque centenary Media
Independent journalism with solidarity-based subscription model

ARGIA is a news media funded in 1919 in Pamplona and published in Basque language. At first religious – called Zeruko Argia, "light of heaven” –, forbidden during the fascist dictatorship in Spain from 1936 on, in the 1950s and 1960s it had managed to come... [+]


2020-02-07 | Paul Iano
The future of the Basque economy: labor power or tech parasites

In this series of articles, it should now have become clear that venture capital has created a system in which two types of companies become global giants: companies with bad business models but good marketing, or good business models and horrible impacts on society. This... [+]


2020-01-29 | Paul Iano
The Coming Tech Economy
The creative destruction of peer to peer

One of the confusing aspects of the tech industry is that from a distance all the companies can seem the same. They use apps, have similar design styles, are based in hip urban centers, and strangely have millions of dollars without making any money. In part, this series is... [+]


2020-01-16 | Paul Iano
The reason Telepizza won't pay minimum wage: Undercover again

After publishing Glovolizacion, a three-month undercover investigation into the working conditions of Glovo riders, I received almost entirely positive feedback from the general public and riders alike. Most riders felt ignored and exploited, and most readers were interested in... [+]


2019-07-21 | Paul Iano
Who is Glovo?

This is the third in a four-part investigative series examining Glovo’s business model and its relationship with the world it operates. Based on public statements by Glovo’s founders, this article will contextualize their world-view and the changes they hope to... [+]


Eguneraketa berriak daude