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hello@communityfinanceireland.comSo you've got an idea. No, a dream.
A dream that could make a difference in your community – to change something by solving a problem or creating an opportunity. First, you need to talk to somebody about a loan to make it happen.
We might well be that somebody. And we’re listening.
Is a loan the right answer for your community group? Your top 10 questions answered here
1. Do you lend to people like me and what makes Community Finance Ireland different?
We lend to:
- Community projects, including charities, social enterprises and faith-based initiatives.
- All sports clubs, including GAA clubs, soccer, rugby, tennis, athletics, water sports and golf.
We are different because:
- We don’t seek personal guarantees.
- We don’t charge arrangement fees on term loans.
- All our clients are ‘matched’ with a local Client Relationship Manager who will meet you in person and provide you with guidance and advice throughout the application process and the entire duration of your loan.
- All our profits are reinvested for the benefit of the sector.
If success for your organisation is social change or social impact, you’re in the right place.
What we don’t do:
- Offer grants.
- Lend to private businesses or individuals.
- Lend to projects outside the Third Sector.
2. What purposes do you give loans for?
- The purchase, construction or renovation of a building.
- Purchasing equipment.
- Restructuring existing debt.
- Cash shortfalls.
- Working capital.
- Bridging loans for Sports Capital, LEADER/RDP Grants, GAA Grant, local governmental grants.
3. What type of loans do you provide?
- We provide long-term loans and short-term loans, as well as bridging finance.
- Loans may also be provided on both a secured and unsecured basis.
4. How much can I borrow?
- Our loans range from €/£10k–600k.
- Your loan will be tailored to your needs – and we’re here to help you every step of the way.
- If you have a figure in mind, contact the Client Relationship Manager in your region and they will be best placed to advise on interest rate and monthly repayment amount.
5. How are repayments made?
- Working with clients, we normally agree a set monthly repayment amount over an agreed term.
- All our loans are flexible, and you can make lump sum repayments any time with no penalties.
- We also accept fundraising efforts as lump sums to help clear your loan sooner if the need arises
6. Is there a limit in the term of the loan?
- Generally, 15 years is the maximum period we lend for.
- While most loans are for a ten year term.
- We’ll work with you to establish what the best solution for your cash flow and your ambitions.
7. What makes a successful application?
- A clear ‘why’ – what’s the compelling reason behind your project?
- An organisation with a clearly defined legal structure.
- A competent management team.
- A robust financial model.
- All relevant paperwork is submitted as per our Checklist.
All our clients demonstrated these in their initial applications – and are thriving as a result.
8. What loan rates do you offer?
- We keep it simple- talk to the Client Relationship Manager working in your local area.
9. How do I go about applying for a loan?
- Complete our loan application form.
- It covers all the key information we need to assess your request.
- Utilise our easy checklists designed to help you save time on what is required.
Once we’ve received your application, a local Client Relationship Manager will be in touch within 48 hours.
10. Already approved for a local grant fund?
- State this clearly in your initial application or general enquiry form.
- We’ll get in touch within 48 hours.
- You have most likely already compiled paperwork that was relevant for your grant. We want to make the loan application as painless as possible and so most of the paperwork we ask for will already most likely mirror the requirements of your grant application. Our paperwork checklist is here for ease of reference.
Didn’t find the answer you were looking for?
No problem.
Ask us for a Call Back.
We’re here to help.
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