Interest Free Loan Scheme
This new scheme will offer Interest Free Loans to LTA Registered Clubs up to a maximum of £24,999 over a period of up to 5 years (Longer periods may be agreed by exception).
A Funding pot of £300k has been made available for the award of interest free loans over a 3-year period. It is a matter for the Committee to decide the amount of funds to be allocated per funding window and to prioritise the bids accordingly. This flexible approach recognises that demand is likely to be greater in the first year.
Application and Approval Process
1) Applications for Loans to be made online via the YTL website. It is hoped that the investment into clubs will assist with projects in order to increase participation at clubs will make them ultimately sustainable for the future. The loan system will work ideally with other funding partners as any funding will be required to be matched pound for pound up to £24,999 in accordance with the Eligibility Criteria.
2) Applications may be submitted at any time, though decisions will be taken as follows:
Applications received up to 31st October – Decisions to be made by end November
Applications received up to 30th April – Decisions to be made by end May
Please Note – The number of decision windows may be increased depending on demand.
3) A Committee will be responsible for managing the Advantage Yorkshire 2 (ACE) scheme and will be supported by the Project Administrator.
4) The Committee will:
a) Manage the £300k funding pot
b) Review and make decisions on all Loan Applications in accordance with the funds available
c) Liaise with Clubs as necessary regarding their application
d) Review the success of the project including benefit realisation monitoring
Case Studies and examples from previous successful Advantage Yorkshire Clubs