Dave Percival
Admin, Ops, IT & Finance
Borrowing from trustees or connected people
Alex Youngs Chair of Trustees at Gorleston Pavilion Trust Ltd Posted 1 year ago
Hi all,
We're a registered charity looking at financing a large project and some of our trustees and connected people have discussed whether they might be able to lend to the trust.
We've checked our governing document and it does permit this - it also states that we are permitted to attach an interest rate repayable to the loan, which suggests the Bank of England base rate as a guide.
Having spoken to our solicitor we can draw up a simple loan agreement template, but I'm wondering if anyone else has executed anything similar with their trustees or connected people or if anyone can give any advice or guidance on this as a process?
Thanks, Alex
No responses yet. Be the first to reply!
{{ctrlComment.postTotalComments}} responses
Load more responses