LINCOLN CITY have been given ten weeks to pay off their £380,000 debt to the Co-operative bank.
The Vanarama Conference club have an overdraft of £300,000 as well as a mortgage of £80,000 to clear after the bank recently called in it debts.
The Imps have since started some fundraising schemes including a share bond application and chairman Bob Dorrian and acting managing director Kevin Cooke met with the bank last Friday.
The result of the meeting was a mid-May deadline for the club to pay back the money and Cooke is hopeful that the fundraising efforts will come good.
He said: “We have ten weeks to raise the money they want. That was the main outcome from the meeting.
“The good thing was that they have given us this time. They were pleased we were making moves to raise money and the progress we are making.
“We will meet with them in the middle of May, and then we will know how our fundraising plans have gone and we can take it from there.”
