Frequently Asked Questions

How will I receive my interest payment?
Interest rate of 4% fixed will be calculated annually and paid to your account on the 13th of January each year – that date being the old Celtic New Year, where it is tradition to hand out money for good luck.

How long will I have to commit my money?
A contractual agreement will be signed and witnessed by both parties to have an agreed loan for a minimum of three years before withdrawal can be made. This will also allow the committee of the project 36 month to refinance and pay you back. We will look to have additional funding from the Football Association of Wales to develop the site as a modern football pitch , but it will take time. Will also apply for grants to develop the building and community services.

What additional security will I have for putting in a larger loan?
Larger lenders of £10,000 or more will be offered a legal charge on the land. They would be first in the queue to have their loan back as a secured lender.

How will you be able to repay the interest?
We will rent out the pitch and facilities to other community groups, also the performance of the Crymych Arms – Club House will allow us to build up a reserve to pay interest and repay some of the loans sooner.

How does the 30% Enterprise Investment Scheme work?
Full details are on the HMRC website by searching EIS. Once we start operating the new pitch as a sports venue we will apply for EIS status on investment and will then provide all lenders with an EIS3 form to claim back 30% of your investment. You have to be a UK tax payer. Possibly ask your accountant or a local accountancy firm about this scheme.

What if I require my loan funding out before the 36 months minimum term?
You can give a 3 month notice should you require you loan funds back sooner than 3 years and then the interest will be calculated to the day of the return of funds.

Where do I send the loan funds to, so that we all can ensure the community football club can develop the field as a football pitch and have as many people enjoying this new community asset?
You can send a bank transfer to:
Account Name CPD Crymych : Sort Code 30-90-90 : Account Number 51189268

I cannot afford the £1,000 but how can I donate to help with the costs of the campaign?
There is a GoFundMe site that will help support the initial costs of the community campaign – please visit www.gofundme.com and search CPD Crymych.