Members of the Shrimpers Trust committee met with Blues chairman Ron Martin and chief executive Geoffrey King to discuss the football club's request to extend the deadline for the return of the short-term loan.
They were happy to do this and repayment is now due at the end of April.
Trust and Club Agree Loan Extension
'Members of the Shrimpers Trust committee met with Southend United chairman Ron Martin and chief executive Geoffrey King on Friday 26th February to discuss the Football Club's request to extend the deadline for the return of the short-term loan made by the Trust to the Club at the end of 2009.
As a result of this meeting, the Trust can announce that The Shrimpers Trust has agreed to revise the deadline of a £60,000 loan they gave Southend United in December.
The decision was made after a period of careful deliberation and followed full and frank discussions between the two parties about the state of the Football Club's finances.
The Shrimpers Trust was informed that the delay in this repayment was due to the ongoing implementation of working capital investments by Southend United FC, which had taken longer than originally envisaged.'