URL: https://democracy.lewes-eastbourne.gov.uk/ieDecisionDetails.aspx?ID=1126

Decision Maker: Lewes District Council Cabinet

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose: To approve provision of financial support in the form of a loan to Wave Community Bank following previous cabinet agreement to support the loan in principle.

Content: To approve provision of financial support in the form of a loan to Wave Community Bank following previous cabinet agreement to support the loan in principle. (Key decision):   (1) To agree the form of loan for LDC to provide a subordinated loan to Wave Community Bank following legal advice and full due diligence.   (2) To agree the amount of up to £100,000 as a loan as outlined in this report.   (3) To agree 5 years with an optional 5-year extension as the term (period) of the loan.   (4) To give delegated authority to the Section 151 Officer, in consultation with the Cabinet member for finance, assets and community wealth building to complete the loan agreement with Wave Community Bank and to approve any extension.

Date of Decision: June 5, 2025