News Reader.info

Guidance APPLY FOR A COLLEGE CAPITAL LOAN Eligible further education (FE) institutions can apply for a loan for capital projects that face a funding gap following the reclassification of the

FE sector. Get emails about this page THIS GUIDANCE WAS WITHDRAWN ON 29 JANUARY 2024 The college capital loans scheme closed for applications in May 2023. APPLIES TO ENGLAND CONTENTS * Who

can apply * Eligible projects * What you’ll get * Apply for a loan Print this page College capital loans will provide funding to eligible capital projects in the financial years of 2023 to

2024 and 2024 to 2025. These loans will cover funding gaps resulting from commercial borrowing restrictions following the reclassification of the FE sector. Capital loans are repayable and

lending is subject to terms and conditions. WHO CAN APPLY You can apply for a college capital loan if you’re a: * FE college * designated institution * sixth form college There is no limit

to the number of applications per college. You should submit an application for each capital project with a funding gap. ELIGIBLE PROJECTS Eligible capital projects must: * be underway or in

advanced stages of planning * have a funding gap as a direct result of restrictions to commercial borrowing following the reclassification of the FE sector * have evidence of intent to

borrow commercially before 29 November 2022 Projects may already get government funding or be self-funded. All projects must: * improve the college estate * support the delivery of

high-quality further education in England More information on the eligibility criteria is available in the application guidance (PDF, 366 KB, 31 pages). WHAT YOU’LL GET We’re not setting a

limit to the amount of loan you can apply for. You’ll need to provide evidence of the level of commercial borrowing you intended to take before 29 November 2022. We’ll consider projects and

loan amounts on a case-by-case basis. If your application meets the eligibility and assessment criteria, we’ll develop proposed repayment terms for your college. You must draw down the loan

between 1 June 2023 and 31 March 2025. APPLY FOR A LOAN Read the application guidance (PDF, 366 KB, 31 pages) before applying for a capital loan. It explains: * the eligibility and

assessment criteria * what evidence you’ll need to provide as part of your application * the specific templates you’ll need to submit alongside the application form Complete the form for the

type of project you’re submitting a loan application for: * DfE grant-funded project application form (MS Excel Spreadsheet, 33.9 KB) * self-funded project application form (MS Excel

Spreadsheet, 33.8 KB) As well as the application form, you’ll need to complete the: * estates expenditure profile template (MS Excel Spreadsheet, 36.7 KB) * project costs template (MS Excel

Spreadsheet, 102 KB) * cash flow forecast template (MS Excel Spreadsheet, 395 KB) If you’re applying for a loan for a self-funded project, you’ll also need to complete the project summary

template (MS Excel Spreadsheet, 43.7 KB). Email your completed application form and templates by midnight on 31 May 2023 to [email protected]. SIGN UP FOR EMAILS OR PRINT

THIS PAGE Get emails about this page Print this page Contents