Loans

Loans will only be considered in exceptional circumstances.

Loans are available up to £25,000 and can be used for capital or revenue expenditure.

The outcomes of the project on which the loan is spent must clearly help to deliver our Funding Priorities.

We will only consider a loan to bridge a funding gap where you can evidence forthcoming funding or income generation and demonstrate that you have explored and exhausted all other realistic funding options before approaching us.

The debt plus interest must be repaid at market rate. "Market rate" to be defined as:

1% above the average rate of interest generated from the council's investments; or
1% above the cost of borrowing for the council

The interest rates on unsecured loans will be higher and set by the Head of Finance depending on the circumstances of the applicant.

Application Deadline and Decisions

To discuss an application for a loan, please contact the Scrutiny and Partnerships Manager who will discuss the application process and, if you are eligible, will send you an application form.

Applications can be received at any time and will be considered at the next available Community Grants Panel.

You will be required to attend the grants panel to discuss your project.

We will notify you of our decision within two weeks of the panel meeting.

Business Plans

Your loan application must be supported by a business plan. Your business plan should describe your project, detail your project aims and objectives and make a sound financial case for your proposal, explaining how you intend to minimise any potential risks. You may find it helpful to structure your plan under the following headings:

Introduction
Summary (of key points in the business plan)
Background of project
Description of project
Need and evidence of need
Project aims, objectives and outcomes
Making it happen
Planned activities
Risk analysis (probability, impact, mitigation)
Management/governance arrangements
Building appraisal (if relating to build or refurbishment)
Land or other considerations (if relating to build or refurbishment)
Funding plan
Income and expenditure forecast
Marketing and promotion
Contact details
Appendices/supplementary material e.g. details of consultations; useful background/evidence data, building surveys, plans and design work
Letters of support

Safeguarding

Ashford Borough Council is required by law to safeguard children and to protect public funds. We may use the information you have provided for the prevention and detection of criminal activity and fraud. We may also share this information with those bodies responsible for auditing or administering funds for these purposes.