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Loans to non-profit organizations: Bank proposal


When we talk about non-profit organizations we refer to all those companies that act for the Economy of the Common Good and that, therefore, do not have as their main objective the realization of a profit. These are companies that use their profits to invest in their organization for purely logistical purposes. As often happens, non-profit organizations do not have the possibility of obtaining certain banking services precisely because they do not have the accumulation of capital as their last.

Things, however, seem to have reached a turning point.

The Astro bank Group has decided to change the rules in order to establish Bankate, a section entirely dedicated to the world of non-profit organizations. This is a real bank that was conceived with the precise aim of being able to communicate with companies dedicated to the Third Sector, promoting services that can help them increase the quality of life of the entire society.

Thanks to the institution of the Third Value, Bankate is able to finance the most deserving projects through the access to credit of the Supporters, who for the first time take control of the situation and become real “social bankers” “. In this way it is possible to increase the resources of each individual non-profit by providing the capital necessary to meet the commitments of the Supporters: in this way, the companies will be able to ensure that they recover the sums they have lent.

Access to credit and to work

Access to credit and to work

The Bankate Statute says “The company, taking care to fully preserve its corporate sustainability and to operate in full compliance with the legislation and the criterion of sound and prudent management, aims to create social value (… ). It will support with credit the best Nonprofit initiatives for personal services, the dissemination of culture and education, the use and protection of the environment and art, access to credit and to work. ” From here the institution’s willingness to get involved to promote the well-being of businesses and, therefore, of the community in general is evident. As it is logical to think, not all the non-profit organizations will be helped, but only the best initiatives will be facilitated that, often, are put aside by the conventional methods of banking evaluation.

To this is added “The company will work to ensure that its human and financial resources are added to the capacity expressed by the subjects – public and private – operating for the general interest. To accompany the growth of the Italian social economy, grasp its needs and effectively interpret them the points of view, the estate will make use of the contribution of representatives of the non-profit world set up in a dedicated body – in order to guide the activity of solidarity and development “.

But how can we understand which are the most deserving non-profits? In this regard, the Astro bank Group has established a rather innovative technological tool, based on the rating system, which is able to highlight all the potential peculiarities of the company in question in assessing creditworthiness.

Loan committee

Loan committee

Furthermore, Bankate has created a fund for the development of the social enterprise which will be included in the financial statements at first with the capital provided by the shareholders and, subsequently, integrated with half of the profits obtained during the course of the activities business; through the establishment of this fund, it is possible to cover the probable credit losses, which otherwise would not be bankable. Thanks to this system, credit can be granted to those initiatives that are more interesting and more difficult to put into practice. It is precisely for this reason that a Solidarity and Development Committee was also organized for a correct use of this fund, which is made up of people who belong to the Nonprofit world and who know how to best evaluate the skills of companies and the potential of proposed projects.

The products offered by Bankate are different: the most innovative is, most probably, the advance of 5 per 1000, a service that has already been chosen by dozens of organizations.

Another proposed banking service is the establishment of the Serie Speciale Bankate bond which has a duration of 5 years, with a gross annual fixed coupon of 2.00% and an annual yield at maturity of 1.60% net of tax 20% replacement fee. The minimum denomination that allows access to the subscription is 10,000 USD but, eventually, if more can be purchased, as long as they are multiples of this sum. The Bankate Special Series is issued directly by the Astro bank Group and it is possible to proceed with its purchase until 6 December 2013, unless it is closed early.

Through the purchase of the coupons of the aforementioned obligation, capital will be accumulated which will subsequently be granted in the form of loans to companies and entities operating in the non-profit sector through Bankate. Since the Bankate Special Series is considered as a bond, the issuing body has provided for a repayment of the capital invested at the expiry of the coupon. If the buyer intends to dispose of the amount invested before its expiration, the repayment sum will be calculated based on the selling price in the secondary listing market of the moment and may not coincide with its value at the time of issue. In this case, a loss on the invested capital would occur.

Bankate is available within each branch of the Astro bank Group in Italy.

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