Pre-development
Pre-development finance may be made available when a CLT project has developed an outline concept for a housing development including the identification of a target market for the properties and a potential site. Pre-development finance may then be needed to cover things like conducting site surveys, employing architects and achieving planning permission.
We provide pre-development funding on a “no-win, no-fee” basis i.e. we fund projects that we believe have a good chance of achieving a planning permission and raising development finance. If you do both of these things, we expect you to repay the funding plus a fixed success fee of 25% of the funding we provided you with. If you don’t get planning permission or can’t raise development finance, you don’t repay us anything.
How to apply for pre-development funding
At this stage we have an informal application process; we like to talk to people over the telephone and face to face about their project. We have prepared a set of questions which will guide you in your preparation in applying for pre-development finance, please download our application guide (PDF – 68k).
If you would like to talk to someone about applying for pre-development finance please contact Venturesome on:
Email venturesome@cafonline.org
Tel: 03000 123 300Venturesome will hold initial discussions with the CLT to appraise its proposal, its stage of development and financial need.
Following this Venturesome will either:
- Provide signposting, informal advice and feedback if the proposal needs further development
- Refer the enquiry to the TAF for further development; or
- Proceed with the appraisal and due diligence of the proposal, preparing and application for the CLT Investment Committee.
