Page 142 - Manual for Activities directed at the Underwater Cultural Heritage

Private sector sponsoring may also take the form of assistance in-kind, such as the loan of premises, equipment or personnel, technical assistance (pro- ject studies and expert advice) and the provision of services free of charge or at a reduced price (travel, technical supplies, equipment etc.).
Last but not least, the contribution of volunteers, amateur divers or NGOs, may represent a major contribution in-kind, with the added benefit of embedding the operation more within society. En- couraging the active participation of students, divers and youth in exploration, but also in other protection interventions or activities may even prove a long-term investment in the practical training of experts, who will in the future run similar projects themselves.
Equity financing, advances and loans
Advances and loans are often a subject of discussion between the promoter of a project and funding agencies. Advances and loans may take various forms: cash advances (discounts on subsidies, permission to overdraw, etc.); short-, medium- or long-term loans; ordinary loans or loans with a State-subsidized interest rebate. Obtaining a loan is normally subject to guarantees (save in exceptional cases such as subordinated loans). It is therefore at this level that guarantee funds and mutual security funds (vocational or public) have a decisive role to play. Certain investment schemes give the right to special loans at a reduced rate of interest and many different financing sources should be contacted, if necessary via a broker. Public authorities may also, either directly or indirectly through specialized mechanisms, accord loans or advances against receipts that are repayable only if the project is a success.
Interests
Cash management is too often neglected, and no due advantage is taken of the numerous opportunities for short-term investment that offer remuneration for sums not at present being employed and ‘lying idle’ in a current account. Just as one pays interest on advances and loans, so it is possible to receive
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Funding