DEPOSITS
• The variable interest rate is currently at 1.9%.
• The minimum deposit to open an account in the Scheme is €1,000/£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.
• Clubs who are depositors in the Fund will be given priority consideration for a loan where demand exceeds supply.
LOANS
• Loans are available to vested GAA properties only.
• In the likely event the fund is oversubscribed, only applications for Core GAA activity will be reviewed. Core GAA activities = Land Purchase, Pitch development (Grass & Synthetic), Floodlights and Dressing Rooms.
• Only clubs ready to start works should apply. Clubs will have 6 months from the letter of offer to drawdown the loan.
• Clubs are expected to have 20% of the overall cost of the project in available funds. The value of the loan will not exceed 80% of the cost of the project.
• The cumulative maximum amount available to any one Club is €100,000/£100,000 stg. The term of the loan will be reflective on the amount sanctioned (max term 10 years).
• The interest rate applicable is a variable interest rate, currently 1.9%.
• Repayments are monthly via Direct debit/Standing Order.
• Applications will only be considered on receipt of completed loan application form with supporting documentation, a viable business plan demonstrating repayment capacity and signed guarantee from the County Board with a recommendation provided by the Provincial Council. If an application is submitted that is incomplete or missing documentation, the application will be rejected.
**The GAA Development Fund will accept loan applications from 1st December 2024 to 31st January 2025 via Foireann. **
All applications for loans must come through Foireann. The Clubs Foireann Administrator must apply by clicking on the link below and filling out the application form: https://www.foireann.ie/
Deposit forms should be returned by email to **gaadevelopmentfund@gaa.ie**