In recent years, political parties have changed the way they finance themselves. Traditional banking, which generally has higher interest rates, is no longer a regular source of income and, on the other hand, microloans from individuals and party supporters are, which are cheaper for organizations. In fact, this is how the electoral campaigns of various organizations are financed and these means can also be used at specific times, as Junts has done now.
The fact of leaving the Government of the Generalitat in October 2022 and being left out of the government of three of the four Catalan councils last summer has repercussions on the coffers of Junts, since public positions and positions of trust contribute a small part of his salary to the party. Now these contributions have decreased due to the new scenario and in the training fund there has been some trouble due to two consecutive electoral campaigns.
Thus, JxCat offers its supporters to take out microloans that the party repays after a year. These have a higher profitability than Treasury bills, a highly coveted product for conservative investors due to its security and which returns 3.293% one year from now, according to the latest public auction. Specifically, the party pays the Euribor benchmark plus one point in interest, which today would be approximately 4.5% higher. However, it also offers the possibility of lending money without interest and making donations.
According to the documentation that the party has posted on its website, Junts can be loaned 1,500, 3,000, 5,000 euros or higher amounts as long as they are multiples of 1,000 euros.
At the meeting of the national council that was held last Saturday in El Morell (Tarragonès) the party’s budget for this year was discussed, which foresees that 1.2 million euros will arrive this way and other income from private sources. The person in charge of this was the organization’s finance secretary, the councilor of Reus and senator Teresa Pallarès. Carles Puigdemont’s party is waiting to collect electoral subsidies from now until June and a few weeks ago the leaders were already asked to lend money to the party, knowing that it can be returned without problems.
