Hosting Loan Agreement
The purpose of this loan is to offer financial support to BC Clubs that host a National or International championship event. This application includes all National and International events, except the Canadian Major Championships (combined pairs, triples, fours) as there is a separate application for the Major Championships. The objective of the financial support is to assist clubs with start-up funding for the event they are hosting. For 2016, the following events are eligible:
- National Open Singles
- National Junior/U25 Singles
- National Indoor Singles
- North American Challenge
- Bowls BC will provide the Host Club financial support of $2,000 (“Two-Thousand Dollars”) and the Host Club may use the funds for any purpose that is directly related to expenses of hosting the Event.
- Financial support is in the form of a loan to be repaid within 30 days of the last day of the event, unless the event’s total net income (excluding loan from Bowls BC) is less than $6,000, in which a portion or all of the of the loan is forgiven. The amount of the loan to be forgiven will be equal to the difference of net income less than $6,000.
- Example 1: Net income is $3,500. The Host Club is not required to pay back any part of the loan.
- Example 2: Net income is $4,500. The Host Club is required to pay back $500.
- Example 3: Net income is $5,500. The Host Club is required to pay back $1,500.
- Host Club will provide an event financial statement within 30 days of the conclusion of the event that records all revenue and expenses generated from hosting the event.
- The Host Club must apply for the viaSport Hosting BC grant. Copy of the application must be provided to Bowls BC. Failure to apply for the Hosting BC grant will result in denial of this funding request.
- Bowls BC must be identified as a sponsor and supporter of the event on all printed promotional material (posters, programs, banners, advertisements, etc.)
- The Host Club agrees to respect and consider the recommendations made from Bowls BC regarding the running of the Event.
- Bowls BC will respond to this agreement within 5 business days of submission. If accepted by Bowls BC, funds will be advanced within 30 days of submission.
Note – This agreement must be completed by a Host Committee member.