Overview
This article provides information on the GAA Development Fund, the terms and conditions of the fund and the loan process along with important timelines for when loan applications open and close.
Table of Contents
- What is the GAA Development Fund
- Terms and Conditions
- Application timelines & process
- Additional Information
- How to submit an application
What is the GAA Development Fund
The GAA Development Fund stands as a cornerstone initiative by the Gaelic Athletic Association dedicated to fostering the growth and enhancement of the infrastructure of Gaelic games at the club level. It serves as a financial mechanism designed to support the progress and development of GAA clubs and communities throughout Ireland. The fund's primary focus is on upgrading facilities, improving playing conditions, and investing in programs that nurture the development of both players and the sport itself.
| NOTE: The GAA Development Fund will accept loan applications from 1st December 2024 to 31st January 2025 |
Terms and Conditions
1. Loans are only available to assist clubs with the development of vested GAA properties.
2. Only applications for Core GAA activity will be considered. Core GAA activities are defined below (Non-Core GAA activities are any developments that is not mentioned below):
- (A) Land Purchase (Purchase of lands to develop GAA facilities)
- (B) Pitch Development
- (i) Development of Synthetic Playing Surfaces
- (ii) Development of Grass Playing Surfaces (Groundworks, Drainage, Irrigation)
- (iii) Goalposts & Ball-stop Nets
- (C) Floodlights (New and upgraded)
- (D) Dressing Rooms
- (E) Ball Wall / Ball Alley
3. Top-up loans or refinancing existing debt will not be funded by the GAA Development Fund.
4. Only clubs ready to start project works (and where applicable, with planning permission granted) should apply. If successful, clubs will have 6 months from the letter of offer to draw down the loan. After this, the loan offer will expire, and the club will need to submit a new application when the fund re-opens.
5. Clubs are expected to demonstrate they have 30% of the overall cost of the project in available funds (Matched Funding). The value of the loan will not exceed 70% of the cost of the project.
6. Clubs who have a minimum of €10,000 on deposit in the Fund will be given priority consideration where demand exceeds supply.
7. The cumulative maximum loan amount available to any one club is €100,000/£100,000 (Depending on the Jurisdiction of the Club).
8. Maximum repayment term of 10 years Repayment terms are set out below:
- <EUR/STG 49k = 5 years
- >EUR/STG 49k but <EUR/GBP80k = 8 years
- >EUR/STG 80K = 10 years
| NOTE: There are no penalties for early repayment |
9. Variable interest rate applicable, currently 1.9%. This interest rate is set by the NFMC, and any changes will be advised in writing to each club.
10. Repayments are to be made monthly by Direct Debit (26 counties) or Standing Order (6 counties & outside the island of Ireland). Interest will accrue daily and be charged to the account monthly.
11. The availability of funds is subject to the Funding Policy criteria, as set out by the NFMC for the overall fund. Should the Fund become oversubscribed, the NFMC retains absolute discretion about the loan amount award, considering the club's demonstrated needs.
12. The club will be required to sign a loan agreement reflecting the commercial terms of the loan, following which the funds will be transferred pending receipts of work significantly commenced / property acquired.
13. All applications must be guaranteed by the County Board and a recommendation provided by your Provincial Council following submission.
14. Applications will only be considered by the NFMC on receipt of the completed loan application form.
Application timelines & process
Loan applications open on the 1st of December 2024 and will close on the 31st of January 2025.
The process for the application is as follows:
1. Submitted through Foireann between the 1st of December 2024 and 31st of January 2025
2. Supporting documentation including a viable business plan demonstrating repayment capacity.
3. Approved by County & Province.
| NOTE: If an application reaches the NFMC following review by the County & Province which is incomplete or missing documentation, the application will be rejected by the NFMC. (The County & Province will have the option to inform the club of missing information if spotted during their reviews and seek resubmission from the clubs. |
Additional Information
If you have any questions relating to the GAA Development Fund, please contact gaadevelopmentfund@gaa.ie.
Please also refer to the GAA website for more information:
Comments
1 comment
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