Rural Initiative Loan Fund

Interest free loans of up to £2,000 are available under the Rural Initiatives Fund. The aim of the fund is to enable groups to overcome cash flow problems by getting an up front loan. It can then be paid back when income from the project comes in or over a period of time, allowing local fundraising/grant applications to come to fruition.

Who is eligible to apply?

Community groups, village hall committees, sports clubs, playgroups, parish councils and local voluntary organisations throughout Devon can apply. Applications should show the support of the parish council and must be non-commercial. Applications by individuals will not be considered.

What type of projects can be funded?

Loans will be considered if projects benefit people living in rural Devon, enhance the quality of rural life, show evidence of need and local co-operation.

Projects should aim to show how local people can co-operate to enhance the quality of life for those living in the rural areas of Devon. Loans are available for both capital and revenue costs.

A wide variety of projects may be eligible including:

Parish maps (especially where copies will be sold at a later date)
Community newsletters (for set-up costs, or replacement equipment)
Village hall projects
Sports projects
Feasibility studies
Environmental projects
Local distinctiveness projects
Community arts projects

What level of funding is available?

Loans of up to £2,000 can be awarded although not usually for more than 50% of the total project costs.

When do loans have to be repaid?

Loans can be repaid over a period of up to 3 years, and are interest free for this period. Once a loan is agreed, you will be sent a Loan Agreement Form which will outline when payments are due.

For grants over £500 two guarantors for the loan will be required and they will be approached should we not receive repayments on schedule.

How do we apply for a loan?

All loan requests should be made in writing on the application form. Click here to access an electronic version of the form

[ Application Form ] & [InformationFlyer Nov 007.pdf ]

Requires Adobe Acrobat [ Download Acrobat Here ]

For more information regarding the Rural Initiatives Loan Fund please contact:
Cara Stobart, Community Council of Devon, County Hall, Topsham Road, Exeter, EX2 4QB (01392) 383345 email cara@devonrcc.org.uk