Our team are currently working on several plans to raise the funds to purchase the freehold from the brewery.
Share Offer. We are planning a share offer with the ambitious aim of persuading every household in the community to become a share holder. We are offering one £50 share per person. Additionally but very importantly we are appealing to the much larger community outside of the parish to people who are familiar with The George.
2. Grant Funding. Post election we are waiting to see if the Community Ownership Fund is still going to be available for us to apply for support. In some cases in the UK this has been as much as £250,000. We would need to demonstrate both a realistic and viable business plan of a significant commitment from the community. We will also be seeking grants from local authorities, organisations and businesses.
3. Crowd Funding. Appealing to the wider community again we will seek donations of any size to assist us raise the cash.
4. Loans. We intend that loans will bear interest but this is not guaranteed. Repayable in the future once the pub is both profitable and generating a steady rental income. This method was very successfully used locally to fund our village hall extension.
Should the plan to purchase the pub ultimately fail then all money raised through the share offer, loans and donations (where the donor is known), would be returned. Any excess monies received would then be distributed to charity.
As soon as we have The Community Benefit Society fully registered we will be able to open a bank account and then we will launch the share offer. Please visit our website regularly for updates on the scheme.
Support from Plunkett Foundation and Support Staffordshire
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