Left: obligation data from the Local Loop Lancaster & Morecambe trial – as of February 2023, there are about 30 registered businesses with more than 60 obligations, but no loops yet. Centre: if obligations from each registered business to MCS are added (representing membership fees invoiced in arrears), MCS – which has suppliers in Lancaster – becomes a ‘super-connector’. Right: the resulting loops. The Local Loop team are working to sign up more businesses and anchor institutions to create lots more loops.
Following validation of the approach (including the business model that makes running and growing a Clearing Club economically viable), we intend to replicate the system across the UK and have already had several expressions of interest from potential on-the-ground partners. If you would like to learn more about joining this first cohort of our social franchise, please contact us.
Local Loop Lancaster & Morecambe website.
Woodroof, T.F. et al., The Local Loop North West clearing club: A case study of a community-based implementation of multilateral obligation set-off (abstract), 2022.
Woodroof, T. F., Green, D., Local Loop North West: A Community Implementation of Multilateral Obligation Set-off, 2022.