Urgent Telephone 4pm - 8.30am : 01233 331111

Loans

Applications for loans have been suspended until further notice.

Loans are available up to £25,000.

These can be used for capital or revenue expenditure in exceptional circumstances and where the outcomes clearly help to deliver our Funding Priorities [docx] 13KB.

We will authorise 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 Funding and Partnership Officer. The officer 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.

The community grants panel will meet to consider eligible applications three times per year in March, July and November. 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.

Who to contact for help

In order to discuss a loan application, please contact:

Michelle Byrne
Funding and Partnerships Officer
Telephone: 01233 330485
grantsandfunding@ashford.gov.uk