The Plunkett Foundation offer finance packages of loans and grants to communities that are considering taking on the responsibility for and ownership of their local pub, through purchase or long-term lease. The programme will increase the number of community-owned pubs open and trading. For many communities, pubs are not just a place to drink; they are central to people’s sense of place and identity, they provide an opportunity for meeting up, and they foster community cohesion. The programme seeks to support pubs in England which advance a charitable purpose to benefit their communities.
A comprehensive package of business development support, advice and loan and grant funding has been developed to assist community pub businesses consider their viability at all stages of their development which includes:
- A flexible package of support including:
- an advice line
- peer-to-peer study visits
- business development advice.
- Flexible bursary awards of up to £2,500 (inclusive of VAT) to fund pre-feasibility costs such as public consultation and valuations.
- Combined loan and grant funding up to £100,000 but not exceeding £75,000 £50,000 in grant contribution (average grant is expect to be c. £37,500, average loan may be around £42,800). Where the loan and grant combination is required the loan funding is a prerequisite and grant monies will only be released once the loan has been approved with a loan provider. The amounts and ratios available are discretionary and will be assessed against the group’s ability to service a loan, meet the eligibility criteria and clearly demonstrate their wider social and economic impact. There is an expectation that groups will raise some level of community finance which will be taken into account when determining the funding mix.
All applicants for loan and grant funding will be expected to evidence clear and significant viable benefits to their local community for their plans, as well as some funding already raised within the community.
For more information and how to apply please click here.
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