London Haveli Project
Loan Scheme information
This scheme was first announced on 21st July 2013 by our Patron, His Holiness, Pujya Goswami 108 Shree Dwarkeshlalji Mahodayshree (Kadi, Ahmedabad) at the Manorath of Shree Thakorji Swaroop Padhramni.
Vaishnav Sangh of UK (VSUK) has been actively looking for premises to establish a Haveli in London, and one issue that arose and needed to be addressed was the ability to exchange and complete within a short time period. This meant that we must have access to readily available funds when the appropriate proposition arises.
We have abided by our previous principle that VSUK will not appeal for donations until the project is on the table, so Je Je Shree suggested this scheme, whereby individuals, families, a Mandal or a group of friends pledge to lend amounts to VSUK.
The loans would be secured by a legally binding loan agreement, signed by both parties. The loan would be interest-free and repayable in two years time, but with the option for the Lender to accept a longer period of 3 years or 4 years.
At this stage, we do not need the actual funds, just a pledge. The loan amounts will be called-in once a suitable deal has been arranged, and this arrangement would put VSUK in a very strong position to negotiate favourable terms.
A copy of the loan agreement is attached which will be executed for each loan made to VSUK.
The Haveli loan funding projection, as foreseen by Je Je Shree to be attainable is set out as:
|Loan Amount||Number of Lenders Required||Total Funds to Raise||Total Funds Currently Pledged||Funds Outstanding|
The dream of having the first Sudh Pushti Marg Haveli in London is very close to becoming a reality, and with our efforts and commitment, we can hasten the process.
We kindly urge you to discuss this scheme with your family, relatives, friends and associates to decide on the amount that you are willing to lend, and let us have your pledge either by telephone or e-mail to one of the committee members listed below.