Decision details

The Corporate Director Resources in consultation with the Leader, Deputy Leader (Executive Member for Finance) and Chief Executive to approve loan facility draw down by Brierley Homes of £300k at the usual commercial rate of interest to ensure Brierley Homes has appropriate cashflow over the short term in line with demonstration of need. This is a drawdown of the loan facility previously agreed on 16 September 2025 and not additional loan being approved.

Further loan draw down from the existing facility of £300k is required in order to allow the company time for sales to be received and therefore this loan draw down will ensure Brierley Homes can make all payments due in the event of some delayed sales.

There is an option not to approve an additional loan drawdown, but this runs the risk of some payments being unable to be made if there is any delay in sales income being received and loan facility headroom is available following the Executive decision on 16 September 2025 to approve an additional commercial loan facility for Brierley Homes of £2m.