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Loan Note Scheme

    A key aim of the Swindon Town Supporters Trust is to purchase additional shares and invest in Swindon Town Football Club. That is why the Swindon Town Community Mutual Loan Notes Issue (the "TrustSTFC Loan Fund") is a key part of our efforts. The terms and conditions of the loan fund are set out in a legal document, a copy of which can be obtained from the Trust Office. You are advised to look at this document before taking out a loan.

    The minimum contribution to the Loan Fund is £250 (one "Loan Note"). This figure has been chosen in the hope of raising the maximum amount of money possible. The contribution will be in the form of an interest free loan with no fixed date for redemption. The scheme is only open to members of the Trust will be able to purchase Loan Notes in £250 denominations in accordance with the terms and conditions of the Loan Fund.

    Once the funds generated by the Loan Fund have been invested in Swindon Town Football Club, there will be procedures under which loans can be repaid in future, However, the number that can be redeemed will be severely limited and will be dependent on the Trust having sufficient funds to do so. In any event, the Trust will never be obliged to repay any loans. It is unlikely you would be able to get your money back at least for the foreseeable future.

While £250 is the minimum figure, we hope that many fans will contribute more than this to the Loan Fund. The best incentive, of course, is the more you contribute the bigger the investment we, the fans, will have in our football club. If you can afford to contribute more than £250, we urge you to do so. Loans can only be made in multiples of £250 (you cannot, for example loan £350).

    When the TrustSTFC Loan Fund has raised a substantial amount of money (the timing of this will be left to the judgement of the Trust board), we plan to enter into negotiations to buy shares and invest in the club.

    The full rules of the Loan Note scheme may be read here

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Your Questions Answered

    What happens if I can't afford £250 or more?
The Trust has arranged a "Loan for a loan" scheme with the Co-operative bank, which will lend supporters a minimum of £1000, subject to their eligibility criteria, so that all of part of the money lent may be on-lent to the Trust. This will be a private arrangement between the individual and the Co-operative bank. Subject to the terms of the loan from the Co-operative bank, the borrower will be able to redeem the loan immediately in the event that the Trust board decides to authorise repayment of loan notes. A termination payment may be required
Two or more people can club together and make a joint loan to the Trust, although only one of those people can be registered as being the lender of record, and the agreement between those people will be a private one for which the Trust will take no responsibility.
All supporters can become members of the Trust by paying the annual membership fee (£10). In addition the Trust will gladly accept donations of any size. All administration costs are being kept to a minimum and we hope the Trust membership fees, and other fund raising schemes will easily cover them. This, we hope, will enable a substantial proportion of cash donations to go into the Trust's funds alongside the Loan Fund. However, none of the rights of members can be given to those who make donations but are not members of the Trust.

    What benefits do I get for my loan?
The main benefit you get is to play your part to enable the supporters to invest in their club and effectively be significant players in the future of Swindon Town.

    What additional benefits do I get for lending more money?
Every extra £250 will take us nearer to our goal of investing in Swindon Town Football Club and securing a lasting voice for supporters in the running of the club.

    What will happen to the money that I lend?
Initially, the money will be placed on deposit in the Trust's account with the Co-operative bank and will be used only for the purpose of the scheme or schemes to acquire additional shares and invest in Swindon Town Football Club, pending a vote of members on how the Loan Fund should be spent.

    Whill I get a say in how the Loan Fund will be spent?
Yes. When the Trust board decides that sufficient funds have been raised to purchase shares and invest in Swindon Town Football Club, the Trust will seek to do so. It will also seek to gain representation on the Board of the club and to guarantee that the supporters will have a say in it's future. The proposed deal (or deals) negotiated will then be put to a vote of all members for approval before any money is actually committed.

    do I need to be a member of the Trust to be a Noteholder?
Yes. Noteholders are required to be members of the Trust. In the event that a Noteholder's membership of the Trust ceases, such Noteholder shall have no voting rights.

    If the Trust buys shares in the club, does that mean that Noteholders each own shares in the club?
No. The shares would be owned collectively by the Trust for the benefit of all it's members who pay their annual membership fee. As a Loan Fund Noteholder you will also be a member of the Trust. The Loan that you have made will not give you any greater ownership of Swindon Town Football Club than any other member of the Trust.

    How will I have a say in the running of Swindon Town Football Club and who will represent the supporters at STFC board level?
The Trust has a Trust board that manages it's activities. The members of the Trust board are elected by the members in general meeting in accordance with the rules(additional board members may be co-opted by the Trust board). In the event that the Trust buys shares in Swindon Town Football club, it is possible that the purchase will be conditional on the Trust having a right to nominate a certain number of individuals onto the board of the club. These people (who may or may not be on the Trust board) will represent the interests of the members of the Trust as conveyed to them as
(i) Trust board meetings
(ii) General meetings of the members of the Trust
The selection of the individual(s) nominated to represent the Trust on the board of STFC will be made in such democratic manner as the Trust Board considers fit.

    If Swindon Town are successful in future years and the Trust's stake becomes worth a lot of money, could we sell our shares and distribute the profits?
The would be possible for the Trust to sell some or all of the shares it buys in Swindon Town Football Club, although this would be contrary to the principles of the supporters' ownership of the club that the Trust is trying to establish. If the entire shareholding was sold, the cash received by the Trust would firstly be used to repay Loan Fund Noteholders. The remaining cash would then be used for the Trust's general objectives for the benefit of the community.

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Important Information

Swindon Town Community Mutual Limited, trading as TrustSTFC, an Industrial and Provident Society registered with the Registrar of Friendly Societies under the Industrial and Provident Societies Acts 1965-78. All references to the ‘Trust’ or TrustSTFC on this site are to the Swindon Town Community Mutual Limited that holds funds, under its rules, for the benefit of the community and not in trust for its members.