The Loan Fund will
consider applications from professional musicians under the age
of 36 for loans to enable them to purchase a high quality
instrument appropriate to their careers. Applications should be
in respect of a specific instrument that the player wishes to
buy.
Please note:
- Applicants should be professional musicians
under 36, earning their living playing in public
- Loans are made for instruments that will be used
by the borrower for public performance, with the
special exception, in appropriate cases, of keyboard
instruments that may be required principally for
practise and teaching purposes by players who have
already achieved public recognition as soloists or,
in the case of pianists, as accompanists
- Preference is given to British nationals
- The Trust is obliged to charge interest on loans, currently at the low rate
of 3% flat on the full amount of the loan advanced
- Loan and interest will be repayable to the Trust in equal monthly
instalments over the period of the loan, which will not exceed five years,
starting one month after the loan is advanced. Repayments must be by banker's
Standing Order of a fixed amount throughout the repayment period.
- The Fund does not enter into loans where commercial lenders are involved
- If your proposal is accepted by the Trustees, a formal letter will be sent
to the applicant setting out the terms of the loan. There is no commitment on
behalf of the Trustees until an offer letter has been received, signed and
returned to the Trustees.
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Completed applications should reach the Secretary to the Fund by
2 January, 1 May and 1 September for consideration at the next
meeting of the Executive Committee of the Trustees. |