Members may recall that back in May 2016 we offered fixed term Investment Opportunities to members, rather than obtaining commercial loans, at the time the SHARE Church Park Solar PV installation was nearing completion, and again in 2018.
Members were able to directly support SHARE’s aims and the Church Park project, and benefit from a preferential interest rate. At the same time, SHARE was able to obtain funding at lower cost than would have been possible from banks, and the full financial benefits remain within the community. Our 40kW solar installation at Church Park was fully funded by members. Since then, routine interest has been paid, and some loan capital has been repaid. The next substantial repayment of capital is due in June this year.
Therefore we are now able to offer a new opportunity for Members to invest in SHARE by providing new loan funding. The Directors would like this new investment opportunity to be spread as widely available as possible. Full membership is open to anyone who lives, works or owns property in South Hill, and Associate membership for anyone else interested in our work.
The loan period will be 2 years, at the end of which the loan will be repaid in full (unless there is mutual agreement to extend the loan agreement). Interest at 4% per annum will be paid at the end of year 1 and at the end of year 2. You may offer to invest as much as you like, subject to a minimum of £100 and a maximum of £5000. If this opportunity is oversubscribed, the Directors will amend the amounts of individual loans while maintaining the membership participation as wide as possible.
If this Investment Opportunity is of interest to you, please contact us by email: SHARE@south-hill.co.uk (or phone SHARE Treasurer Sue Skelton: 01579 382397) and full details will be provided, including a financial projection for the Church Park project.
The closing date for offers is the 31st May 2019.
Graham Beven
SHARE Financial Director
HAPPY EASTER FROM ALL AT SHARE