Himalayan Centre Edinburgh

Invitation and Background

The Board of Trustees/Directors of Himalayan Centre Edinburgh thanks Life Members, Members, Investors and the wider community for their support during the recent community fundraising campaign to assist with the Centre’s financial commitments.

Although substantial funds have already been raised, the charity requires a further £125,000 to repay the existing security loan, support the release of property security, and protect the long-term future of this important community asset.

Funding Information

• Required amount: £125,000
• Permitted use of funds: to repay the existing security loan and support the Centre’s property position
• Preferred repayment period: 15 years, unless the Board agrees an alternative
• Applicants should propose their own interest rate and explain the basis for it
• Applicants must state whether the proposed funding is secured or unsecured
• Applicants must specify any early repayment rights, notice requirements, break costs, penalties or other conditions
• Any successful proposal will be subject to legal due diligence and a formal loan or funding agreement prepared by solicitors

Operational Assumptions

• Funding proceeds will be used to repay the existing security loan and support the release of property security
• A 15-year lease of the whole centre may be provided, subject to legal agreement
• Rental income will be expected to support repayments
• Estimated rental income to the Centre is approximately £30,000 – £36,000 per annum
• Community access every Monday will continue, within agreed operational arrangements
• Subletting may be permitted, subject to Board approval and any legal restrictions
• Alterations may be permitted only where all required approvals are obtained, including Listed Building Consent, Edinburgh Council approval and Board approval
• A transition period of up to three months may apply

Required Proposal Information

Board Assessment and Governance

The Board will assess all complete proposals fairly, transparently and consistently, having regard to the charity’s purposes, governing document, financial position, property obligations, community benefit and long-term sustainability.

In assessing proposals, the Board may consider the proposed amount, term, interest rate, repayment profile, the applicant’s financial standing, source of funds, ability to complete within the required timescale, business plan quality, governance arrangements, risks to the charity, community access and any actual, potential or perceived conflicts of interest.