To fund our community project, we as a community needs to raise about £1 million; 90% of this will come from the government through the Gigabit Voucher applications. The final 10% will come by members of our community buying Community Shares.
Community Shares are a way in which members of our community can loan some money to our broadband project. Shares are bought from the B4RN community. Each share costs £1 and the money raised from the purchase of Community Shares will all be used to fund our community broadband project. The value of Community Shares does not change, and they can only be sold (after at least 3 years) back to the B4RN community. To encourage members of the community to buy Community Shares and as a reward for demonstrating a commitment to our project the Community Shares earn an annual return of 5%.
The B4RN community which we are a part of is registered with and is regulated by the Financial Conduct Authority (FCA) as a ‘Community Benefit Society’. This means that the B4RN community does not make a profit. Any surplus funds have to be returned to the community and used to benefit the whole community.
Note: You may feel it appropriate to take professional advice before investing.