Local Amenity Development Loans
For not-for-profit organisationsAmenity Loans
Dedicated to assisting West Midlands communities with the finance to enable them to invest in ventures that will enhance the social and environmental impact of their Community Assets.
Projects
We have a particular interest in projects that seek to reduce our carbon footprint or ameliorate negative climate change factors, so renewable energy and EV charging points would be good examples. Sustainable communities are also at the heart of our Charity parent company objectives so projects involving local transport, mobile communications for rural areas, and community shops would be examples of this. These are only examples of the type of development project the fund might support , so if you have something in mind, please just ask!.
Financing
We’d love to give grants for this type of project but unfortunately our own funders have requirements for us to lend and recycle those funds and minimum interest rates that we can apply.
Your monthly repayment fee will vary depending on your individual circumstances and how much you borrow but there is a fixed rate of 6% interest with a £500 admin fee (APR will vary between 6.5 and 7.5% ) Repayment terms are usually 12 months to five years.
We’d expect to see in the project business plan that the repayments would predominantly come from the benefits associated with the development.
To get started
You can email info@impetus-marches.co.uk with brief details of the project or fill in an online application form.
If you meet the following criteria you can apply for an Impetus Local Amenity Development Loan:
You’re a not for profit organisation
You’d like to borrow between £15,000 and £40,000
You are based in Herefordshire, Worcestershire, Shropshire and Telford & Wrekin
You have a clear business plan
Our Process
Provide your basic details
Fill in an initial online application form or simply give us a call
Submit your business plan
We’ll then gather some background information and ask to see your business plan and we’ll then arrange to meet you
We review your application
We’ll then give you an indication of whether we’re able to make a loan and if yes, we’ll agree how the finances will work
Your loan is credited
If both sides are happy, we’ll arrange the loan
“The whole process was quick and easy and I would recommend anyone seeking a loan to give Impetus a call.“
– Alan Sharrock – Business Owner | Miruji Health Spa
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