Defra’s Rural Community Buildings Loan Fund, managed by ACRE, helps community buildings fill temporary gaps in funding, either for specific projects or for urgent work connected with the building. Communities are encouraged to raise funds, knowing a loan could be available to help them meet their target and win funding from other sources.
The Fund offers loans towards:
- constructing a new community-owned building, including through the Community Right to Build powers;
- purchasing an existing building for use by the community, including through the Community Right to Bid powers; and
- extending, renovating or improving an existing community owned building.
The average loan taken out by hall committees is around £15,000, but larger loans are considered. The interest charged on the loan is returned to the Government, but capital is put back into the fund to support other community buildings.
The loan offers a flexible, simple repayment system. Payments can be made at a pace that fits your community’s fundraising schedule (loans are typically paid off within five or eight years) and groups will not be penalised for paying it off early.
Deadline: Continuous rolling programme – limited funds. Contact your local ACRE Village Hall Advisor for loan availability.
For more information and how to apply please click here.
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