Bath Cricket Club to Benefit from Government-Backed ‘Funding for Lending’ Scheme
Bath Cricket Club becomes one of the first charities to benefit from the Government-backed ‘Funding for Lending’ scheme.
Founded in 1859, Bath Cricket Club has a 600 strong membership and been designated a focus club by the England & Wales Cricket Board (ECB) to be a hub of the community network for cricket development, particularly for the benefit of children and young people.
In recent years, the cricket club has attempted to raise funds to replace the main clubhouse as it was in desperate need of improvement, repair and decoration. This plan was aborted last year but the building still required major repair work including a leaky roof, rotten wood, redecoration, new furniture and a larger kitchen.
Barclays provided £200,000 towards this much need refurbishment work utilising its ‘Cashback for Business’ scheme which incorporates an instant cashback injection which will help boost the club’s finances.
Mike Priscott, Club Financial Director, Bath Cricket Club, said: “In May our John Ruddick Pavilion was destroyed by fire which dismayed us all, but morale has been restored and raised by Barclays enabling us to have our main Pavilion, with all its multi-functional activities, refurbished in tip top condition for today’s standards. We didn’t want to go through another winter with a leaky roof, and in these somewhat uncertain times the Club is indeed most appreciative of Barclays support.”
Martin Crook, Relationship Director at Barclays in Bath said; “Barclays has played such an important role in supporting Bath Cricket Club in this way benefiting its many members and now offering the facilities they need for the next chapter of the club’s long-established history. Barclays will pass on the whole benefit we derive under Funding for Lending to our customers and we are optimistic that people will take advantage of this cheap time to borrow, and make the investment decisions that they have been putting off.”
Barclays hopes that Funding for Lending will create one of the most competitive loan markets in recent history and expects the UK ’s leading banks to offer different cheaper lending products which will help fuel demand and competition.
Barclays will actively manage its product offerings to respond to these market changes and will introduce new ways of channelling the benefit of Funding for Lending to our customers.
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