
The club, based in Oval, London, is ultimately looking to bank £3.5m from what has been called the Surrey Country Cricket Club Bond – a fixed five-year term investment offering 5.5 per cent gross interest a year.
Despite club revenue from membership income, conferencing and events and matches improving during the last few years, the decision was made to utilise a funding method that is becoming increasingly popular. Originally used by the likes of John Lewis and Hotel Chocolat, smaller businesses such as Mexican food chain Chilango, beer brand Innis & Gunn and The Eden Project have recently completed fundraisings. A minimum commitment of £2,000 is required for the Surrey mini-bond, after which multiples of £1,000 can be invested up to a maximum of £250,000 for a single applicant and £500,000 for joint applicants. Although £3.5m was set as an initial target, Surrey has said that up to £5m may be issued to “satisfy demand”. Priority has been given to members of Surrey Cricket Club.- Fearnley-Whittingstall’s River Cottage raises £1m through mini-bond
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