Project Update - 1st December 2018

AN OPEN LETTER FROM THE MANAGEMENT COMMITTEE

The Race for the Racehorse

The initial Share offer for The Racehorse Community Pub ends this week and we have raised a very impressive £120,000 in pledges. This is fantastic news as it enables us to apply for grants and enquire about loans. Thanks to everyone for their support!

We are now ready to enter the next stage, raising a minimum of another £130,000, to save our pub and so we have extended the initial Share Offer until January 31st.

  • We need to raise another £40,000 in pledges

  • We need to raise £90,000 through loans, grants and fund-raising events

  • We will use fund-raising events to cover on-going expenses.

  • We will be aiming to raise at least £15,000 through grants. So we still need your help both in pledging the money and in spreading the word.

Borrowing money is expensive and every pound we have to borrow commercially makes the viability of a community run Racehorse harder. We will therefore be looking to borrow as much as we can from friends of the Racehorse at a lower than commercial rate and we are currently looking at how this might run alongside raising share capital. Please let us know if that might be of interest to you.

The race for The Racehorse continues!

Many thanks from the management committee
Nick Hoare, Keith Jennings, Chris Punt, Stu Read, Brenda Smith

Stu Read