The UK Debt Management Office (DMO) operates the Public Works Loan Board (PWLB), a statutory body of up to twelve Commissioners.
PWLB lends to town and parish councils (in England) and town and community councils (in Wales).
Moneys are provided by Act of Parliament, drawn from the National Loans Fund and rates of interest are determined by the Treasury. The Board’s accounts are audited by the Comptroller and Auditor General whose reports on them are laid before Parliament.
The Board’s lending arrangements are set out on the PWLB website.
This includes guidance on applying for a loan and indicative repayment costs. These can be accessed here.
