Start your own Pardna business today

If you’re an influential member of your Caribbean community and want to earn money from your side hustle, download Circles 360 and get started today

What is a Pardna

A Pardna (also known as Pardner) is an informal and collaborative money-raising scheme also known as a ROSCA (Rotating Savings and Credit Association) that originated in Jamaica and across the Caribbean. Pardnas are set up within communities of friends, family members, colleagues, interest and church groups.

When Jamaicans began migrating to Britain in the 40s they faced widespread prejudice in banks. This meant they had to retain traditional methods of raising money - the Pardna - to help Jamaicans buy homes in the UK and it continues to be a popular way to raise money today. Many StepLadder Members say they are part of a British-Caribbean community.

The benefits of raising money in a Pardna

In Jamaica alone, the use of Pardnas is exceptionally high, with up to 95% of the adult population using this model to raise money. Pardnas are proven to help people stay disciplined as Members borrow from and lend to each other. It especially appeals to people who don’t want to use or can’t access bank accounts, loans or ISAs. Members won’t earn interest as you get back what you pay in (minus the fees you earn) but it’s a far cheaper way of borrowing money than taking a bank loan or paying interest on credit cards. Members can get their money up to 90% faster than raising money alone.

 

"Stepladder is a great company for the people!

With the break down of community Pardnas (due to the introduction of accessible loans) this was refreshing to see a company put community first, helping people generate and build house deposits. Being an ambassador and having run a successful circle myself, I can see first hand how Stepladder are literally changing the lives of so many people! Definitely check them out"

Natalie,
Runs 2 Pardnas on the StepLadder platform

How do I raise money in a Pardna?

A Pardna works when the community group members all agree to monthly installment payments over a fixed period. For example, 10 members each decide to pay in £100 every month for 10 months to raise £1000. Each month one person in that group gets awarded the £1,000. Everyone continues to pay the £100 until every member of that group is given their money back. This means 9/10 people in the group will have their money sooner.

StepLadder has brought the Pardna online which will allow millions more people around the world access to finance. You can use Circles 360 to service your existing groups of people raising money for the same goal, or you can recruit new people from your communities into Circles.

How do I start an online Pardna with StepLadder?

It’s really easy start a StepLadder Circle or Pardna in your community. Click on the link below to read more about how Circles 360 works and what your software can do for you.

With Circles 360 you can grow your Pardna community to up to 1,000 members, all working together to reach their money goals. This all-in-one toolkit means you can manage your Circles, manage payments and the draw cycle, regulate risk and generate reports to reduce the hassle of running Pardnas offline.

What our Members think

How is this different to a traditional Pardna?

Everything is done digitally taking out the usual pains of running a Pardna

 

Growth

The Circles 360 platform will allow you to reach new people and generate revenue from your connections. The platform can be fully branded and customised for you and your business.

Management

Instead of keeping your Pardna members’ records in a notebook or spreadsheet, our software is designed specifically to manage Circles efficiently, leaving you free to grow your business.

 

FAQs

 

  • We bring people together to reach their financial goals faster. 90% of our Members get their money faster compared to saving alone, and research shows that people who save in groups are 300% more likely to hit their goal than those who save alone.

    You tell us your goal, and how much you can afford each month and we’ll match you to a group of people (a Circle) with the same financial goal. Everyone pays in the same amount each month. Every month one person in the Circle is awarded the total. This repeats every month until everyone has received their total.

  • We get it, it all sounds too good to be true, doesn't it?! That’s exactly what our first members thought before they experienced the StepLadder service, the excitement of Draw Day and received their funds. Now we have over 2,000 Members who have trusted us to help them achieve their financial goals. But don’t just take our word for it, check out their independent reviews on Trustpilot.

    Remember there’s is nothing better than experiencing it for yourself - why not start small and get to know us.

    You can start from just £25 a month. Apply Now

  • StepLadder is an appointed representative of More Lending Solutions Limited which is authorised and regulated by the Financial Conduct Authority (reference number: 702503).

    You can find us on the FCA register here - FCA Register Our firm reference number is 783003.