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GAA Development Fund

GAA Development Fund

DEPOSITS

• The variable interest rate is currently at 1.9%.

• The minimum deposit to open an account in the Scheme is €1,000/£1,000.

• Initial confirmation on the length of time the deposit is to be held in the fund is required. Annual updates on same will need to be provided by the club.

• Details of the Unit investing in the Fund must be provided.

• Clubs who are depositors in the Fund will be given priority consideration for a loan where demand exceeds supply.

LOANS

• Loans are available to vested GAA properties only.

• In the likely event the fund is oversubscribed, only applications for Core GAA activity will be reviewed. Core GAA activities = Land Purchase, Pitch development (Grass & Synthetic), Floodlights and Dressing Rooms.

• Only clubs ready to start works should apply. Clubs will have 6 months from the letter of offer to drawdown the loan.

• Clubs are expected to have 20% of the overall cost of the project in available funds. The value of the loan will not exceed 80% of the cost of the project.

• The cumulative maximum amount available to any one Club is €100,000/£100,000 stg. The term of the loan will be reflective on the amount sanctioned (max term 10 years).

• The interest rate applicable is a variable interest rate, currently 1.9%.

• Repayments are monthly via Direct debit/Standing Order.

Applications will only be considered on receipt of completed loan application form with supporting documentation, a viable business plan demonstrating repayment capacity and signed guarantee from the County Board with a recommendation provided by the Provincial Council. If an application is submitted that is incomplete or missing documentation, the application will be rejected.

**The GAA Development Fund will accept loan applications from 1st December 2023 to 31st January 2024 via Foireann. **

All applications for loans must come through Foireann. The Clubs Foireann Administrator must apply by clicking on the link below and filling out the application form: https://www.foireann.ie/

Deposit forms should be returned by email to **gaadevelopmentfund@gaa.ie**