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ELPREM Ltd was formed in 1996, at the instigation of the then Provincial Grand Master, RWBro James Dunsford Hemsley. He was concerned to learn of Masonic Halls within other Provinces that had closed because of unexpected [emergency] financial commitments: the closures being the result of the Hall Management Committees being unable to raise or service the necessary finance.

The initial funds for ELPREM Ltd came from a mini-Festival held within the Masonic Province of East Lancashire.



ELPREM Ltd is empowered to lend money to East Lancashire Masonic Halls to meet unexpected / emergency financial expenditure that has to be / been incurred to keep the Hall open and functioning.



Loans made by ELPREM Ltd are subject to the following conditions:

a) Preparation of a Business Plan showing how the loan is to be repaid.

b) Provision of

•  Details of existing loans and charges;

•  Copies of the last two years audited financial statements;

•  Specification of the work to be undertaken [and why it is necessary], with three quotations;

•  Two professional valuations of the assets available for security.

c) The minimum loan is £5,000 and the maximum loan is £50,000: subject to this not exceeding 80% of the project cost or 20% of ELPREM Ltd's available funds.

d) Interest is fixed at 3% below current Bank Rate, subject to a minimum interest rate of 2.5%.

e) The maximum term of loan is 10 years: early repayment of capital is penalty-free.

f) Loans are to be by a Legal Charge, the cost of which is to be borne by the borrower.

g) Repayment of interest and equal instalments of capital are payable on 30 June and 31 December each year: the first instalment of repayment of capital being due within 12 months of the date of the loan and the first payment of interest being due within 6 months of the loan.

h) Satisfactory insurance must be in force.

If you think that ELPREM could help your Masonic Hall then contact your Assistant Provincial Grand Master in the first instance