Leicestershire and Rutland Playing Fields Association offer loans of up to £5000 to eligible clubs across the region. Applicants must be in our area of geographical coverage and be current members of the PFA.
- Applications will be considered up to a MAXIMUM OF £5,000 per application.
- Repayment will be within a 5 year period with repayments of 20% of the original principle SUM being made annually on each anniversary until the amount is extinguished.
- No interest will be charged as long as repayments are received in accordance with the arrangement. However the LRPFA reserves the option of making an administrationcharge for each new loan. This is currently £10 per £1,000 borrowed per year. Therefore a £5,000 loan over 5 years would incur a administration fee of £250. A £2,000 loan over 2 years would incur a much lower fee of £40.
- The Leicestershire & Rutland Playing Fields Association however do reserve the right to charge interest at the nominal rate of 5% for the length of time that any payments remain overdue.
- The borrower will have to show a secure tenure for the period of the loan.
- Once agreed, a loan agreement form must be signed by the Chairman, Secretary and Treasurer on behalf of the borrower.
- Funds will only be released against production of invoices covering the agreed expenditure.
- Total funds available to borrowers are limited by amount and as such may from time to time be temporarily unavailable.
- All successful applicants must be members of the Leicestershire & Rutland Playing Fields Association.
- Please use the Get in Touch feature below to find out more and access an application form.