Friday 20 October 2017

Fermanagh club calls on GAA to provide loans

Colm Keys

Colm Keys

A Fermanagh club wants the GAA to act as a private bank for its membership.

Derrygonnelly Harps have submitted a motion to the Fermanagh convention next week asking that the GAA set aside money from its "healthy net current assets" to fund start-up businesses by GAA members.

The exact text of the motion asks that "our association, the Gaelic Athletic Association, set aside part of its healthy net current assets to a revolving loan fund, which will be used to assist association members with business start-up loans (subject to a satisfactory business appraisal) repayable over a fixed term at preferential interest rates".

The reason behind Derrygonnelly's desire to see such a fund being developed isn't clear, but it's sure to be connected to the squeeze on credit in the current economic climate.

The establishment of such a fund would require significant rule change and would also have the potential to run into financial governance issues. The GAA have a hardship fund for past players, which is now under the remit of the GPA, who are also being funded to roll out services for current inter-county players.

Irish Independent

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