The story of Foward.Berlin

by Claudia Burbaum, co-founder of Forward Planung und Forschung GmbH

At Forward, our first priority was to find a trustworthy, mission-aligned bank that reflected our values. At the time, GLS and Triodos weren’t onboarding new companies — or the process would have taken several months, time we simply didn’t have. After some searching, we eventually found Sozialbank, a values-aligned partner that could support us on a faster timeline. (Today, the GLS Bank is increasingly focusing on steward-ownership and supporting companies aligned with this model. You can follow their developments and offerings related to steward-ownership on this page.)

Shortly after opening the account at Sozialbank, we needed around €50,000 and approached Sozialbank for an overdraft facility. To apply, we submitted a letter introducing our company, the opening balance sheet of our GmbH, a three-year profitability forecast, and a detailed month-by-month liquidity plan for the next 12 months. Given the project-based nature of our work, our liquidity planning is always quite detailed. The bank was impressed by the level of detail in our planning and the clarity with which we were able to outline both our current situation and reliable estimates of upcoming projects and income. Thanks to this, we were able to secure an overdraft facility with no fixed end date. We pay a small monthly fee for its availability and, similar to a personal overdraft, a percentage on any money we actually borrow.

We also took an important step by creating an internal liability agreement within our partnership. This ensures that financial responsibility for loans isn’t placed solely on the managing directors, but is instead shared among all partners. This is especially relevant in steward-ownership structures, where ensuring that no one individual holds excessive power due to their financial stake is crucial. 

In summary, our experience has shown that while finding a bank aligned with your mission can take time, once the relationship is established, it can become a reliable and supportive partner — one that not only understands but supports your mission. With a clear alignment of values and good preparation, it’s possible to secure the necessary financial backing, even under tight timelines.