**THE GAA DEVELOPMENT FUND IS OPEN**

• The GAA Club Development Fund is now open for Loan applications for 2023.
• Closing date for Loan applications is the 7th April 2023. No applications will be accepted after this date.
• Only clubs ready to start works should apply. Clubs will have 6 months from the letter of offer to drawdown the loan.
• Successful Clubs will be notified by 26th May 2023.
• A link to the online application has been sent to the Club secretary.

The purpose of the GAA development Fund is to provide finance at a reasonable cost for units of the Association that are developing facilities for the promotion of our games.

DEPOSITS

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

• The variable interest rate is also currently at 1.9%.

• The minimum deposit to open an account in the Scheme is €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.

LOANS

• A club may make an application for a loan from the Development Fund for purchasing property or the development of club property.

• Bar Facilities or renting out facilities are not covered by the fund.

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

• Funding is only applicable to vested GAA properties.

• Loan term is a maximum of 10 years.

• The cumulative maximum amount available to any one Club is €100,000/£100,000 stg.

• Repayments are monthly via Direct debit/Standing Order.

• All loans must be guaranteed by the County Board and a recommendation received from the Provincial Council.

Deposit forms should be returned by email to stephen.lohan@gaa.ie** or aisling.greenan@gaa.ie**