Tennis Australia – Facility Loan Scheme

Tennis Australia – Facility Loan Scheme

Grants - Open grants, National Grants

Overview

This program aims to assist affiliated Australian tennis clubs, centres and associations with upgrades, replacements and improvements on their tennis facilities, by providing low interest loans. It seeks to assist in shortfalls the club may have in funding their project after other avenues of funding have been determined.

The amount of the loan is generally limited to a maximum of one third of the cost of the project with the maximum amount available being $80,000. The period of loan repayment is determined by the amount of the loan with the maximum loan repayment period being eight years.

The interest rate to be charged on the loans will be the Commercial Bill 180 day SWAP rate The rate shall be updated at six monthly intervals on 30 June and 31 December each year. Should the rate increase by 1% or more from the original approved rate then the repayments will be adjusted and advised to the applicant. If the rate continues to increase by 1% or more from the adjusted rate, the repayments will again increase.

Tennis Australia may, at its own discretion, approve a longer repayment period in extenuating circumstances.

Applications for a facility loan must be made through the Member Tennis Association in the applicant’s State.

Who Can Apply?

Eligible applicants must:
– Be affiliated with a Tennis Australia Member Association and continue affiliation for the life of the loan.
– Have a current documented business plan which demonstrates the future benefits of any projected works.
– Agree to implement, conduct and be supportive of Tennis Australia National initiated business improvement tools, research, programs and services.
– Be developing or conducting works that align with Tennis Australia’s national court policy.
– Be agreeable to provide court testing data and /or feedback to Tennis Australia staff or representatives when requested.
– Have secured funds from a number of other sources for the works.
– Have works carried out by a member of the Sports Contractors Association of Australia.
– Be prepared to have works signed off by Member Association Technical Services Officers.
– Repay the loan immediately if any of the terms or conditions are found to be breached.

Main Assessment Criteria

The main assessment criteria include:
– Satisfactory tenure
– Club/association contribution
– National Court policy
– Management
– Business plan/Facility plan
– Financial policy
– Capital reserve/sinking fund
– CERM performance benchmarks

Please refer to the Guidelines for the complete list of the assessment criteria.

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