The CRFU is delighted to announce the introduction of a new Clubs Loan Facility, which is now active. An outline of what has been introduced is as follows :
– a new, and additional, facility whereby any member club can submit a request for up to a maximum £5,000 towards a one-off capital project they may be considering (so it could be for a loan of say £1,000, but capped at £5,000 maximum)
– this would be via an interest-free loan which would have to be paid back to the CRFU over 3 years
– any 1 club can only make 1 loan request in the initial 3-year cycle for the scheme, meaning only 1 loan will be outstanding at any one time per club
– Clubs will have 4 opportunities per year to submit requests, at the end of each calendar quarter, so the 1st one will be by 31/12/26.
– this is additional to, not in place of, the existing Facility Grants (max £500) which will remain ‘as is’
– there will be a strong emphasis on the club’s ability to repay the loan amount during the assessment phase : clearly not all requests will be granted
– the CRFU will retain the right to suspend or stop the scheme at any time at solely its discretion
VAT Payment Phasing
This interest-free loan facility is also being introduced to the very specific circumstances where a VAT-registered club faces a challenge to make VAT payments on bought-in goods /services linked directly to a capital project. The CRFU have introduced a further loan facility (max £10,000) whereby any such loan for input VAT would be immediately repaid once the HMRC have reimbursed the club, so should be within 3-4 months max. of the loan being granted.
I’m sure there may be questions, so please just fire them in to the Treasurer : ashley.shopland@gmail.com or 07768 687 998.
