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 #MyCoolClass

LOAN STOCK

MyCoolClass was founded by regular online teachers from around the world, not investment firms out to turn a large profit.

Over the past year, we have been entirely funded by teachers and other supporters through contributions and donations. We are now at the point where we need to start raising external funding to kick MyCoolClass into full speed.

In early 2022, we will be launching a community share offer seeking to raise £300,000. We hope to launch this offer by February but need to sustain operating costs for the next couple of months until our community share offer is available. To support this, MyCoolClass seeks to issue £7,000 in loan stock before the end of February to support our efforts. 

mycoolclass.com

When you invest in MyCoolClass,
you’re investing in
the future of online education.

Loan Stock Issued in 2022

What is loan stock?

Loan stock is a term used for money invested in a cooperative by external parties. One of the advantages of loan stock is that it cuts out the ‘middleman’, so the full amount goes directly into the cooperative.

The system is best described as a type of ‘fixed-term investment’ – this means people lend money to the co-op for a fixed period of time.
The co-op pays interest to the loan stockholder, and MyCoolClass will issue an extra loan stock certificate to cover this interest each year.

At the end of the set period, the investor is paid back in full, including the interest.

MyCoolClass does not deduct tax from the interest – it is the investor’s responsibility to declare the interest in a tax return.
Loan stock is an unsecured investment.

 

Why not go to a bank for the loan?

One of the advantages of loan stock is that it cuts out intermediary services and their cost, so the full amount goes directly into MyCoolClass. We would prefer to pay interest to our investors who support what we are doing and want us to succeed.

 

Why should I invest my money?

By helping to fund MyCoolClass, you are using money to help change the online education industry, which often prioritizes profits before students, and usually at the expense of teachers.

We are an autonomous association of independent teachers united voluntarily to meet our common economic needs, professional goals, and aspirations through a jointly owned and democratically controlled enterprise. Through fairness and transparency, we simply wish to do business better and keep money in the hands of working people, not venture capitalists and big banks.

View our business plan here.

 

What will the money be used for?

Because we are not backed by millions in venture capital, MyCoolClass has been entirely funded by teachers and donations from supporters. But like any other start-up business, we need money to market and sustain operations until we become profitable.

To do this, MyCoolClass will be launching a community share offer in early 2022, seeking to raise £300,000. We have been working with a consultant preparing the offer and hope to have it ready by February.

But to help sustain operation costs the next few months, we need to raise £7,000 by the end of February 2022. This will cover things such as hosting, software and development, and teacher recruitment.

MyCoolClass hopes to raise this amount by issuing loan stock, and we would love to have your support!

 

Can I decide to withdraw my investment whenever I want?

Investments will generally be returned with interest at the end of the term you initially choose.

We will consider all requests for early withdrawal of an investment and may return the invested money with interest accumulated if it is financially viable for the cooperative. There is no guarantee that we will be able to fulfil these requests.

 

Do I receive interest?

Yes, if you would like of course. You can choose how much interest you would like to receive between 0% – 5%.

 

How and when will interest be paid?

Interest will be paid on the 30th of January each year, or at the end of the term of the loan, when it matures.

 

Why is the loan stock unsecured? Does that mean I won’t get the money back?

In short, no it doesn’t mean that. ‘Unsecured’ means that the cooperative does not offer investors any collateral against the loan. While it is possible for us to fail, this is an extremely rare occurrence among cooperatives, which have an excellent track record of survival compared to other corporations.

 

I’m not sure if I want to invest, can I make a donation instead?

Yes. If you’re not interested in investing for whatever reason, you can make a donation via PayPal.

 

I’d like to invest, what do I do now?

Click here to go to the application form.

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