Area: England and Wales
Amount: Pre-planning finance from £20,000 to over £60,000 | development finance from £200,000 to over £400,000
Type: Repayable loans
Open to: Community Land Trusts and other similar voluntary and community organisations
What are they looking for?
CAF Venturesome's CLT Fund supports organisations that are:
- incorporated in England or Wales
- working on a scheme where at least 50% of the homes being constructed are affordable
- meet the requirements of being a Community Land Trust:
- asset lock to ensure homes remain affordable in perpetuity
- open membership system
- a clear objective of building affordable housing
What will they fund?
Pre-planning finance: Unsecured loans from £20,000 to over £60,000 (the final amount offered is dependent on the risk of the scheme and the number of affordable homes being constructed). This money can be used to pay for various things including survey costs, site investigations and planning fees.
Development financing: Loan financing from £200,000 to over £400,000 to pay for the construction costs of affordable homes.
Costs you need to know about
- A one-off legal fee of £750
- The loan has an annual interest rate of 10% payable when capital is repaid. Loans may be written off if planning permission gets refused
- Typically a 7.5% annual interest rate
- A £750 legal fee and 1% commitment fee
How to apply
For more information about the CAF Venturesome Community Land Trust Fund and how to apply please visit the CAF website.