The aim of the Interest Free Loan scheme is to ensure that the maximum number of voluntary and community organisations have access to funding to consolidate the excellent work already undertaken in their communities.
Objectives
The scheme aims to enable management committees experiencing a cash flow difficulty to carry out projects that are not eligible for a capital grant and budget accordingly.
Who can apply?
Any organisation or parish council may apply provided that:
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It is managed by volunteers, non profit making (including charities) and operated with no undue restrictions on membership
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It operates within the borough of Basingstoke and Deane
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The project benefits residents of the borough
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There is evidence of secure tenure
Purpose of Loan
Loans may be provided for projects including the following;
What conditions must be satisfied?
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The organisation must provide a guarantor
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The project has not yet started
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Where necessary evidence of tenancy/ownership rights and appropriate permission for the works to be carried out
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Where necessary full planning and building regulation approval must be submitted with the application
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Ability to maintain a repayment plan
What supporting information is required?
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A copy of the most recent annual report, including audited or independently examined accounts and balance sheet
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Three quotes for the proposed work
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A copy of the organisation’s constitution including aims and objectives
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Written evidence of parish council support
How much is available?
- Maximum of up to £2,000
Repayment up to 3 years
