PURPOSE
Berkshire LTA has available funds which it wishes to offer as loans to assist clubs in delivering a small facility project or an activity intended to increase membership, participation, regular play, coaching and competition for all ages.
A club must demonstrate good management; a loan cannot be made to a club which is failing to generate sufficient income to sustain itself including a sinking fund for on-going court maintenance.
The “Loan Scheme” will fund up to 50% of the total funds required for any project. Berkshire LTA will expect the club to invest some of its own funds in the project.
The scheme will be administered by the Officers of Berkshire LTA. Initial applications must be signed by 2 Club officers and then submitted to the Club Development committee.
CONDITIONS
Finance
- The club should apply to other possible sources of funding as well as requesting a loan from Berkshire LTA. Application should be made before the start of a project.
- The maximum loan available will be £15,000 and will be interest free. Repayments will be made six monthly for a maximum of five years with the first payment being required six months after payment of the loan to the Club or the completion of construction if it is a facility project whichever is the earlier.
- The club will complete an application form which can be obtained from the County Treasurer and submit copies of the last 2 years' accounts and a business plan detailing the financial and participation benefits to the club and which demonstrates the ability to repay the loan.
- The loan will be unsecured - no personal guarantors or charge over the property will be required.
- The club will be expected to agree to complete monitoring forms requested by Berkshire LTA and must operate an adequate sinking fund for its facilities.
- If the club fails to make repayments as scheduled Berkshire LTA reserves the right to demand immediate repayment of the full amount and to charge interest at 3% above base rate until the date of payment.
GENERAL
- The club will remain registered with Berkshire LTA throughout the loan period and will continue to adhere to all LTA registration requirements.
- The club will work with the LTA County Team to provide coaching and competition programmes from mini tennis to adults in line with the criteria and standards for coaching programmes detailed on the LTA website.
- The club will operate a ‘Safeguarding Policy’ in accordance with the guidelines issued by the LTA from time to time or approved by the relevant Local Authority.
- Any coaches working at the Club must be LTA accredited or accredited +.
- The club's main contact must be available for regular contact with the LTA County Team and agree to ensure that the Club is represented at Club forums and other relevant Club meetings.
Berkshire LTA (December 2019)