TERMS OF THE WE SHARE IMPACT LOAN FOR STARTUPS
The mission of Stichting We Share Ventures (hereafter: ‘We Share’) is to support startups which have the ambition to contribute to solving one or more of the UN’s Sustainable Development Goals by providing loans with favourable conditions.
As an Impact Startup, you may receive a loan amounting to up to € 250.000. This capital may be retrieved in the form of one or multiple loans or tranches.
MATURITY AND REPAYMENTS
We Share loans are granted for a period of 3, 5 or 8 years. Upon maturity, they will have to be redeemed in full together with any accrued interest. Early repayments can be made free of penalties.
LOW INTEREST RATES
We charge a very modest interest which is, given current EURIBOR market rates, 1% during the first three years, 2% during the fourth and fifth year and 3% as of the sixth year.
5 % SHARE TRANSFER
You will be requested to make a one-time transfer of 5% share capital to We Share upon the receipt of (the first instalment of) your We Share Impact Loan. If you take up additional loans from We Share, no further transfer of shares will be required. Please note that We Share will not exercise any voting rights connected with the shares. We want you to stay fully in charge of your business.
By transferring your 5% share capital, you actively back up the We Share share-it-forward philosophy: if your startup becomes successful, you will be able to pass on the support you received to new generations of impact-makers.
BECOMING A FUNDING MEMBER
Indeed, as soon as you start transferring dividends, you will be considered a new We Share Funding Member! 90% of your transfers will be reserved for you to direct to the We Share Impact Startup(s) or Student(s) of your choice. You will have completed the circle!
As a matter of fact, despite all efforts, the majority of startup fail. If you turn out to be unsuccessful and thus unable to redeem your We Share Impact Loan, we expect your initiators to guarantee the loan by sharing 1% of their future net annual income with We Share. We expect this to be carried on until the full repayment of the loan. Initiators include parties who are holding shares in you (as a startup) and have an executive role.
This provision reflects We Share’s aim to support startups initiatives in good faith under a functional circular model!