FC United loan stock scheme for businesses and organisations
FC United has launched a new Loan Stock scheme in which we seek to borrow up to £300,000 at between 3% and 4% interest.
FC United Limited is a leading, supporter-owned football club that is democratically run by its 3,000 members. We are currently building a new home ground and community facilities in Moston, north Manchester, which will deliver real and lasting benefit to the area, with new sports and non-sports community facilities. It will also provide a home ground with a 5,000 capacity that will ensure the club’s sustainable future.
Do you, or does someone you know, have a voice in making financial decisions in other organisations?
We are inviting organisations to lend money to the club – and benefit from this great deal as well as contribute to a fantastic new community facility. FC United has already successfully raised almost all of the £5.7m finance package needed to build the new ground. FC United members have contributed over £1.8m to the club’s pioneering Community Share Scheme. The loan stock offer is one of the last pieces in the jigsaw.
Potential lenders are encouraged to read the club’s updated business plan which includes the capital and funding plan as at February 2014, and a summary five year Profit & Loss cash flow forecast.
What is Loan Stock?
As a Society for the Benefit of the Community (formerly known as Industrial and Provident Society), FC United is a one-member, one-vote organisation. It also has the power to sell loan stock, or borrow, at a rate agreed by its board. The Board has decided to offer loan stock to organisations at between 3% and 4% interest pa - partly to replace more expensive loans and partly to finance increased development costs.
Other similar societies have raised and repaid loan stock in this way. For example, in 2008/9 Unicorn Grocery raised (and later repaid) around £200,000 loan stock towards buying their Chorlton premises and then their farming land. (More details about the principles of loan stock may be found on pages 38-39 of Simply Finance www.uk.coop/simplyfinance.)
Why Should Your Organisation Consider Buying FC United Loan Stock?
➢ Many organisations hold their reserves in bank accounts - typically earning only 1% interest. Lending money to FC United means your organisation can earn up to 4% interest.
➢ FC United loan stock can be bought at 3% over 3 years, or 4% over 5 years.
➢ Unlike any bank in the UK, you can be assured of our 100% democratic ownership and sound ethical policies.
➢ You can view the terms and conditions for FC United’s offer of unsecured loan stock here.
➢ The loan stock offer is based on a robust business plan – this has been the basis of FC United’s Community Share Scheme, over £2.5m of grant funding and Manchester City Council’s support of the project. You can view the business plan here.
How Does An Organisation Buy Loan Stock?
➢ To benefit from FC’s loan stock, please simply complete and return the application form.
➢ For any questions or clarifications, please do not hesitate to contact Jo Bird from Co-operative Business Consultants, who is marketing Loan Stock on FC United’s behalf. Contact Jo at jo@cbc.coop or 07970 075704.
➢ If you require further information about the club, please contact Andy Walsh, General Manager, or Adam Brown, Board Member, at office@fc-utd.uk.
Other relevant information about FC United’s Loan Stock
- Interest on FC United loan stock is fixed at 3% per annum for three years; or 4% per annum for five years.
- The minimum loan stock is £10,000 per organisation.
- The maximum loan stock is £100,000 per organisation.
- Loan stock holders will receive a loan stock certificate.
- Loan stock holders are not required to be members of FC United.
- Application forms must be received by 30th April 2014 and payments by 31st May 2014.
- FC United’s loan stock is only available to organisations, not individuals. Individuals are welcome to buy community shares in FC United.
- Loan stock must be repaid to the lending organisation, in full when it falls due, i.e. at three or five years.
- FC United is not taking money on deposit. Loan stock is not regulated nor guaranteed by the government.
FC United Limited is a leading, supporter-owned football club that is democratically run by its 3,000 members. We are currently building a new home ground and community facilities in Moston, north Manchester, which will deliver real and lasting benefit to the area, with new sports and non-sports community facilities. It will also provide a home ground with a 5,000 capacity that will ensure the club’s sustainable future.
Do you, or does someone you know, have a voice in making financial decisions in other organisations?
We are inviting organisations to lend money to the club – and benefit from this great deal as well as contribute to a fantastic new community facility. FC United has already successfully raised almost all of the £5.7m finance package needed to build the new ground. FC United members have contributed over £1.8m to the club’s pioneering Community Share Scheme. The loan stock offer is one of the last pieces in the jigsaw.
Potential lenders are encouraged to read the club’s updated business plan which includes the capital and funding plan as at February 2014, and a summary five year Profit & Loss cash flow forecast.
What is Loan Stock?
As a Society for the Benefit of the Community (formerly known as Industrial and Provident Society), FC United is a one-member, one-vote organisation. It also has the power to sell loan stock, or borrow, at a rate agreed by its board. The Board has decided to offer loan stock to organisations at between 3% and 4% interest pa - partly to replace more expensive loans and partly to finance increased development costs.
Other similar societies have raised and repaid loan stock in this way. For example, in 2008/9 Unicorn Grocery raised (and later repaid) around £200,000 loan stock towards buying their Chorlton premises and then their farming land. (More details about the principles of loan stock may be found on pages 38-39 of Simply Finance www.uk.coop/simplyfinance.)
Why Should Your Organisation Consider Buying FC United Loan Stock?
➢ Many organisations hold their reserves in bank accounts - typically earning only 1% interest. Lending money to FC United means your organisation can earn up to 4% interest.
➢ FC United loan stock can be bought at 3% over 3 years, or 4% over 5 years.
➢ Unlike any bank in the UK, you can be assured of our 100% democratic ownership and sound ethical policies.
➢ You can view the terms and conditions for FC United’s offer of unsecured loan stock here.
➢ The loan stock offer is based on a robust business plan – this has been the basis of FC United’s Community Share Scheme, over £2.5m of grant funding and Manchester City Council’s support of the project. You can view the business plan here.
How Does An Organisation Buy Loan Stock?
➢ To benefit from FC’s loan stock, please simply complete and return the application form.
➢ For any questions or clarifications, please do not hesitate to contact Jo Bird from Co-operative Business Consultants, who is marketing Loan Stock on FC United’s behalf. Contact Jo at jo@cbc.coop or 07970 075704.
➢ If you require further information about the club, please contact Andy Walsh, General Manager, or Adam Brown, Board Member, at office@fc-utd.uk.
Other relevant information about FC United’s Loan Stock
- Interest on FC United loan stock is fixed at 3% per annum for three years; or 4% per annum for five years.
- The minimum loan stock is £10,000 per organisation.
- The maximum loan stock is £100,000 per organisation.
- Loan stock holders will receive a loan stock certificate.
- Loan stock holders are not required to be members of FC United.
- Application forms must be received by 30th April 2014 and payments by 31st May 2014.
- FC United’s loan stock is only available to organisations, not individuals. Individuals are welcome to buy community shares in FC United.
- Loan stock must be repaid to the lending organisation, in full when it falls due, i.e. at three or five years.
- FC United is not taking money on deposit. Loan stock is not regulated nor guaranteed by the government.
First Posted ~ 07:16 Thu 20 Mar 2014
News ID ~ 5418
Last Updated ~ 01:52 Tue 16 Feb 2021