This 60 second guide is for...

  • residents
  • parish councillors and
  • clerks

who wish to gain a brief overview of how parish councils can arrange a loan or borrow money to fund local infrastructure projects.

 

It is illegal for Town and Parish Councils to have overdrafts as they have no powers to borrow money to fund day to day running expenses (revenue items) hence the need to have adequate reserves.

 

Article Contents - Click on a link below

Legal Background

Sources of Loans

Public Works Loan Board (PWLB)

Paperwork

Approvals

Drawdown

Other Sources

Loan Repayments

Applying

 

This guide is indicative and not definitive, if in doubt get someone else involved or seek professional advice.

 

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