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Author: Community Finance Ireland

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We are inviting you to attend our short Zoom Webinar event on Thursday 24 June from 12 noon to 12:30pm. You’ll hear from our Associate Directors Phelim Sharvin (Northern Ireland) and Emmett O’Hara (Republic of Ireland) as well as our two guest speakers Conor McGale (Membership and Training Officer for Rural Community Network) and Larry O’Neill (CEO of South Dublin County Partnership).

The theme of this event is The Road Back Offers Opportunities and the panel will discuss these opportunities and how our new £/€10 million All-Island Recovery Loan Fund can support those opportunities.

Our Guest Speakers

Conor McGale (Membership and Training Officer for Rural Community Network) 

Conor is the Membership and Training Officer for Rural Community Network, a membership organisation representing around 300 rural groups across NI. Key elements of his work includes the delivery and sharing of fundraising and community development training and good practice.

Conor has over 25 years’ experience working in the community/voluntary sector in Northern Ireland. This has included managing an Advice Centre, project management of a large community facility capital build project, co-ordinating of a cross border training programme, and the delivery of a multimedia oral history project based on the border and in rural areas of NI. He has extensive experience in fundraising, impact measurement, social media, project management, staff/volunteer management, project evaluations, strategic & business planning, and group facilitation. Conor graduated from the University of Ulster with a BSc Hons in Occupational Psychology and has achieved the Diploma in Community Development Practice, PRINCE 2 Project Management Qualification, ILM Level 5 in Management and a Diploma in Digital Marketing.

Larry O’Neill (CEO for South Dublin County Development).

Larry O Neill is the CEO of South Dublin County Partnership CLG and has been employed by SDCP and CPLN since 2005.

Larry commenced his career in community development in the early ‘90s as CEO of Wicklow Rural Enterprises. He was a founding director of Horse Sport Ireland and served as Director/Chair of ILDRA CLG the national governing body for endurance riding in Ireland.

Larry is a graduate of UCO (MBA) and has been involved in Social Enterprise in the South Dublin Area for over 15 years; has served as Chair of Oakfield Trust; Chair and founding Director of Recreate and director of Recycle IT CLG. Larry is a member of the National Social Economy Implementation Oversight Body Established by the government and chairs the Irish Local Development Network Social Economy Committee.

Register Now

To reserve your place, simply click here to register.

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€12 million investment into one of our first clients in the Republic

Today was a very good day. It brought to mind the fact that some things are worth waiting for and that as often happens with our clients and in our business, ideas start small and with the right attitude, resilience, plus the combination of physical and human assets, “continued” progress can and does happen – you simply need a few change-makers to get together and dream a little.

Today, the team of change-makers that I met in Fort Dunree over 17 years ago are having a “Whoo-hoo” moment. Everyone in the team and in the county will be swelling with pride and embracing a renewed focus on the next chapter of their unique visitor centre. Situated in what many rightly believe is among Ireland’s most naturally beautiful spots, there has always been something special about this place.

But whatever your own personal views, the team at Bord Failte and Donegal County Council believe that this project, which started small and with social finance as a core support, is worth believing in. That this same belief is matched with €12 million (9.2K Bord Failte plus match funding 3.2k Donegal City Council ) tells us something about the people of Donegal and the volunteers who are behind this project.

The money will bring renewed confidence, local employment, pride and the ability to welcome further visitors to buy local food or artisan products, sleep in local beds, walks across the greenways and beaches and all snapped for Instagram; with their photos and experiences shared with the world.  Fort Dunree will be ready to make the most of new visitors and a bigger capacity to say welcome –  for welcome is what the team have always had in their minds.

My personal ambition is to have every community across the island of Ireland have the benefit of social finance – to build a team that “speaks finance but hears people” and to understand that social impact can be felt, not just dreamt

It’s projects like this one and their success story today that helps me and my team continue to do what we do.

As Bord Failte and Donegal City Council invests in Donegal, we made a further investment recently too. Anne Graham joined our team as a dedicated client executive for the Donegal and Connaught region. Anne is a native of Donegal and she too believes in the ability of Donegal and other communities across the island of Ireland to re-charge and recover.

As Anne said on her appointment

“I’m excited about working with social enterprises and community projects across Donegal and Connaught. As we gradually recover from the impact of Covid, early client conversations suggest that many believe that with disruption comes great opportunity. I am here to help the sector make the most of the opportunities and social impact ambitions they see ahead”.

I share her sentiment as I too hear, when talking to clients , that recovery and opportunity are hand in glove.

In fact, you will hear more from us later this month, as we launch our €10 million All Island CFI Recovery Loan package, built with projects just like this one in mind; Making social finance loans available for those amongst us who want to help communities thrive not just strive.

Donal Traynor

Group CEO Community Finance Ireland

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And Community Finance Ireland are on hand to help administer it.

Communities Minister Deirdre Hargey has announced today (11.03.2021) the release of over £7.5 million of awards to support charities facing financial difficulty as a result of the pandemic.

Over 300 charities are being offered the funding after successfully applying to Phase 2 of the Covid-19 Charities Fund. The money is awarded to support unavoidable costs and eliminate deficits accumulated by charities from 1 October 2020 to 31 March 2021, with individually tailored awards of up to a maximum of £75,000 per charity. 

Minister Hargey said: “This funding is vital for charities who have lost income from fundraising and trading activity as many are still facing unavoidable costs, even if they are not currently operating or have reduced services.

“Along with £8.8m awarded in Phase 1 of the Covid-19 Charities Fund, this will bring the total disbursed by my Department to support charities during 2020/2021 to £16.3million. The Executive allocated my Department with £15.5m in May 2020 and I secured additional funding to ensure that all local charities’ needs could be met in full.

“I want to thank Community Finance Ireland for helping my Department deliver the much needed Covid-19 Charities Fund. I also want to thank NICVA for promoting the Fund and the support they provided to applicants to ensure local charities had help to apply.”

Phase 2 of the Fund is being delivered by Community Finance Ireland, following successful delivery of Phase 1 by The National Lottery Community Fund who disbursed £8.8million to over 500 charities to support them in the period up to 30 September 2020.

Donal Traynor, Group Chief Executive of Community Finance Ireland said:  “We are delighted to help deliver Phase 2 of the Covid-19 Charities Fund on behalf of the Department for Communities. We delivered £9.25m on behalf of the Department through the Covid Social Enterprise Fund last autumn and are well aware of the importance of this type of support to the sector.

“Our approach to the Fund has been to bring our team’s skills and sectoral knowledge to aid a fair and swift assessment of a charity’s specific needs and make an award which meets those needs in full.

“We encourage all applicants, who receive a letter of offer over the coming weeks, to return their acceptance note as soon as possible so that our team can move to payment stage.”

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Audrey Murray, MBE, who spent her career as a champion for marginalised communities in Northern Ireland has been recognised with a Lifetime Achievement Award for services to the social enterprise sector in Northern Ireland. 

Audrey, who spent over thirty years in the sector, most recently as Business Development and Contract Manager with LEDCOM, retired in 2020.  She continues to serve on a small number of voluntary boards, including Community Finance Ireland (formerly known as UCIT) and Ballyclare High School. 

When Audrey began her career, working in Newtownabbey, Rathcoole and Monkstown just outside Belfast to stimulate private enterprise, the sector didn’t have an official name.  She said:

“I just knew I wanted to help people.  Back then there was a scheme call ACE, aimed at getting the long term unemployed into work, that included a paid work placement.  I asked to meet some of teenagers involved, specifically, a girl who was a hugely talented artist.  I’d been to art college but I knew this girl was so much better than me and had so much potential to make a living from her talent.  But when I asked her what her dreams were, she just wanted a year in the ACE scheme.  She hadn’t been shown how to dream big for herself.”

Audrey struggled with dyslexia as a child and left school unable to read or right properly.  The only career options presented to her and her classmates were, “stitching knickers or slaughtering pigs or moving to England to find work” and none of those options appealed to her. With a diagnosis of the condition in her teens and encouragement from her older sister, she took up a place in art college, which she loved.  While she never formally worked in the arts sector, she used her creativity to develop solutions to business challenges, of which she faced many throughout her career.  

Working with many communities at grass roots level, she sometimes found herself the only female in a room full of ex-prisoners and community representatives.  Never one to be intimidated, Audrey was always focused on what she wanted to achieve.   “I have empathy with people who are being limited.  People need a champion to fight for them and I wanted to be that person, to make a difference.” While it is difficult to pinpoint just one highlight in such a long and diverse career, Audrey notes that in her role at LEDCOM she oversaw the creation of over 600 new social enterprises.  “Social enterprises are a fantastic business sector and the word ‘business’ is a deliberate term, as they make money but they do good.  They meet both social and economic needs, that other private and public organisations sometimes don’t even touch.”

Referring to her award, Audrey quipped:

“They don’t give you a lifetime achievement unless you’re old!  I’m retired now, but it was a wonderful recognition of all the people who I worked with throughout my career and the difference they made.” 

Dónal Traynor, Group Chief Executive at Community Finance Ireland said:

“We’re delighted that Audrey received this award, which is a testament to her tenacious attitude and determination to always make a difference.  We’re lucky to have had Audrey involved with our Board, as she mirrors our own values of Empathy, Integrity and Quality. She brings a direct way of working, attention to detail and a compassionate and forthright approach to doing good for those who need it most in society.”

Colin Jess, Director, Social Enterprise NI said:

“As the foremost support agency for Social Enterprises across Northern Ireland I was very pleased to present Audrey with this award on behalf of our agency. She has had a tremendous impact on the support and visibility of those in our communities who need it”.

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Tinahely Community Sports Hall, Arklow Gerladine’s Ballymoney GAA Club and Hillside Evangelical Church are just some of the projects that have benefited from Community Finance Ireland’s €30 million investment in communities between 2016 and 2019.

The extent of their investment in communities across Ireland was detailed in the first all-island impact report launched last month. At the launch, Dónal Traynor, Associate Director of Community Finance Ireland spoke about the importance of access to social finance as communities recover from Covid-19.

“With the fallout from the pandemic, we anticipate a reduction in grant funding to the community sector generally, so- in the coming years- social finance will play an increasingly vital role in supporting grassroots community organisations and social enterprises. At the same time, Covid-19 has starkly shown the importance of community solidarity, ‘social capital’ and sustainability within communities.”

Dónal Traynor, Associate Director of Community Finance Ireland

As Ireland’s and the UK’s fastest-growing social finance provider, the organisation works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups and social enterprises.

Mr Traynor said:

“We can provide loans ranging from €30,000 up to €500,000 and our finance products are specifically tailored for the community sector. We have waived arrangement fees to make loans as accessible and cost-effective as possible, we have a quick turnaround time for lending decisions, and- given the organisations we lend to are typically run by volunteers- we do not ask for personal guarantees. There has been a default rate of just 0.75% on our loans since 2008, which is low by any standard and particularly when you consider that many of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time.”

Dónal Traynor, Associate Director of Community Finance Ireland
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Earlier this summer we were accredited as a lender under the Coronavirus Business Interruption Loan Scheme (CBILS).

This initiative, created directly to help those impacted by Covid-19, is welcome news for UK based Social Enterprises and Charities (as well as small and medium sized businesses).

As an accredited lender under the British Business Bank’s CBILS scheme, we are delighted that we can continue to support those amongst us, who are working to make a positive impact on society or the environment but are working through the impact of Covid-19 to their ideas or projects.

If you are re-setting or re-collaborating a CBILS loan could be very attractive and timely:

Reduce your cost of funding.
The scheme promises no interest or fees payable in the first year – these costs will be covered by the Government’s Business Interruption Payment.


No need to provide personal guarantees
For a facility up to £250,000.

Here is a Confidence Checklist:

How much can I borrow? 
The range is between £50k -£500k+.  

Do I have to apply to the British Business Bank?
No. Community Finance Ireland and in particular our Associate Director, Phelim Sharvin are on hand locally to handle every aspect with you.  

I’m an existing client, can I apply for CBILS?  
Of course. The fund is for open to all social enterprises or charities if they meet the loan criteria.

How long does the application take?  

If you are fast – we are fast. There is supporting paperwork you need to pull together but once we have that – it can be all in place in a matter of weeks.

Can I repay my CBILS facility early?  
Yes and without any early repayment fees.
Need to chat further?
We speak finance but we hear people. Associate Director, Phelim Sharvin is ready to listen and has already approved CBILS funding to NI clients. Contact him directly on 07803834124

You are eligible to apply if you answer yes to any of these short criteria:  
Your business has been adversely impacted by Covid -19
 Your CBILS-backed facility will be used primarily to support trading in the UK.  
 You are able to confirm that your business generates more than 50% of its turnover from trading activity e.g. Sports clubs may include some fundraising, event income and gate receipts (registered charities are exempt).  
 You are a UK-based small or medium sized enterprise with an annual turnover of up to £45 million per year.  
 Please note: The following are not eligible under CBILS:
• banks, insurers and reinsurers (but not insurance brokers),
• public sector bodies,
• state funded primary and secondary schools.

The borrower always remains 100% liable for the debt.

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk.

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A makeover for the annual ‘Willie Clancy Festival’ in Clare, an upgrade for Ballinasloe Town Hall Theatre, and new equipment for the Dublin Cliffhangers Climbing Club in Finglas are just some of the projects that have benefited from Community Finance Ireland’s €30 million investment in communities between 2016 and 2019.

As Ireland’s and the UK’s fastest-growing social finance provider, the organisation works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups, and social enterprises.

The extent of their investment in communities across Ireland was detailed in the first all-island impact report launched today (02.07.2020). Since 2016, Community Finance Ireland has loaned €8.6m to clients in Leinster, €3.5m to clients in Munster, €1.8m to clients in Connacht, and €16.3m to clients in Ulster.

Dónal Traynor, Associate Director of Community Finance Ireland, said:

“We can provide loans ranging from €30,000 up to €500,000, and our finance products are specifically tailored for the community sector. We have waived arrangement fees to make loans as accessible and cost-effective as possible, we have a quick turnaround time for lending decisions, and – given the organisations we lend to are typically run by volunteers – we do not ask for personal guarantees.

There has been a default rate of just 0.75% on our loans since 2008, which is low by any standard and particularly when you consider that many of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time.”

Donal Traynor, Associate Director Community Finance Ireland

Panel Discussion
Following the launch of their all island Impact Report, Community Finance Ireland hosted an online panel discussion on sustaining communities across the island beyond Covid-19. The panel was chaired by broadcaster and journalist Dil Wickremasinghe. Dil was joined by Tipperary hurler Noel McGrath, CEO of ARC Healthy Centre Julie Irvine, as well as Associate Directors of Community Finance Ireland Dónal Traynor and Phelim Sharvin.

Mr Traynor said:

“Access to social finance will be more important than ever before as communities recover from Covid-19. With the fallout from the pandemic, we anticipate a reduction in grant funding to the community sector generally, so – in the coming years – social finance will play an increasingly vital role in supporting grassroots community organisations and social enterprises.

At the same time, Covid-19 has starkly shown the importance of community solidarity, ‘social capital’ and sustainability within communities.”

Donal Traynor, Associate Director Community Finance Ireland

Official Rebrand
Community Finance Ireland was established in 2007 as part of an expansion into the Republic of Ireland by the Ulster Community Investment Trust (UCIT) Group. UCIT was established in Belfast in 1995 in response to decreasing grant support from government and the difficulties experienced by community organisations in accessing commercial loan facilities.

Under a rebranding initiative announced today (02.07.2020), the social finance group will be known as Community Finance Ireland in both Northern Ireland and the Republic of Ireland. The organisation unveiled a new logo, website, client videos and a new podcast series as part of the rebrand.

Community Finance Ireland Chief Executive Harry McDaid said:

“While the organisation’s trading name is changing in Northern Ireland, our collective purpose remains the same – to support people changing their communities for the better across the island. The response to Covid-19 has highlighted a public desire for greater collaboration and cooperation between Northern Ireland and the Republic of Ireland. This first all-island annual report and our brand reflects a renewed focus for the organisation operating on an all-island basis.”

Harry McDaid, CEO Community Finance Ireland
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A leading social finance provider has recorded its highest ever level of funding for the community, voluntary and social enterprise sector in Northern Ireland, a report launched today has revealed.

The annual social impact report from Community Finance Ireland (formerly UCIT) reported loans for community organisations in Ulster to the value of £14.2m from 2016-2019.

The all-island report, a first for Community Finance Ireland, revealed that a total of £26m had been loaned across Ireland in the last four years, with more than half of all customers (54%) based in Ulster.

As Ireland’s fastest-growing social finance provider, the organisation works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups and social enterprises. Phelim Sharvin, Associate Director, Community Finance Ireland said:

“We can provide loans ranging from £10,000 up to £500,000 but an average loan request is typically £100,000. In our 20-year history, first as UCIT and now as Community Finance Ireland, we have helped more than 500 organisations across Northern Ireland, spanning the arts and culture, hospitality, faith and sports sectors. We have seen first-hand the force for good behind these organisations and the positive change they make to the communities or end users they serve. We’re only too glad to support these extraordinary change-makers in their ambitions to enable change in our society.”

Phelim Sharvin, Associate Director Community Finance Ireland

The Community Finance Ireland report has been published to coincide with a rebranding initiative which will see the social finance provider transition to be known as Community Finance Ireland in both Northern Ireland and the Republic of Ireland. The organisation unveiled a new logo, website, client videos and a podcast as part of the rebrand.

Community Finance Ireland Chief Executive Harry McDaid said:

“While the organisation’s trading name is changing in Northern Ireland, our collective purpose remains the same – to support people changing their communities for the better across the island. The response to Covid-19 has highlighted a public desire for greater collaboration and cooperation between Northern Ireland and the Republic of Ireland. This first all-island annual report and our brand reflects a renewed focus for the organisation operating on an all-island basis and signifies a new era for the organisation.”

Harry McDaid, CEO Community Finance Ireland

Ulster Community Finance Ltd (another group company) has since 2013, managed two Northern Ireland Small Business Loan Funds on behalf of Invest Northern Ireland with the latest contract awarded in 2018. The loan level is up to £100,000, which means the new Fund has the potential to lend over £9 million to local SMEs, helping them to optimise their potential through investment. To date, approximately £10m has been disbursed to SMEs in Northern Ireland.

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Community Finance Ireland, the fastest-growing social finance provider across Ireland and the UK, has welcomed the announcement today by the Social Finance Foundation of new funding initiatives targeted at community organisations and social enterprises.

The Social Finance Foundation (SFF) is an independent organisation established by government in 2007. It provides loan funding to social organisations through lending partners including Community Finance Ireland.

Today, SFF announced that:

  1. Facilitated by Banking and Payments Federation Ireland, the Irish banks (AIB/EBS, Bank of Ireland, permanent tsb and Ulster Bank) will make available an additional €44 million in low-cost funding to SFF over the period 2021 to 2025; and
  2. The European Investment Fund has agreed to provide loan guarantees totalling €25 million to support new lending by the Foundation.

Access to capital “at a time when it is really needed”
Welcoming the announcement, Dónal Traynor, Associate Director of Community Finance Ireland, said:

“These measures confirm access to capital for the community and social enterprise market for at least another five years, at a time when it is really needed.

“With the fallout from the Covid-19 pandemic, we anticipate a reduction in grant funding to the community sector generally, so – in the coming years – social finance will play an increasingly vital role in supporting community organisations and social enterprises. At the same time, Covid-19 has starkly shown the importance of community solidarity, ‘social capital’ and sustainability within communities. The SFF measures announced today will help us continue our support to grassroots communities groups and, in turn, will help groups provide essential services in their local areas.

“We have been proud partners of SFF since our accreditation with them as a Social Lending Organisation in 2008. Right across the island of Ireland, Community Finance Ireland works with groups that drive social impact, including sports clubs, social housing organisations, community projects, faith-based groups, and social enterprises.

“We can provide loans ranging from €30,000 to €500,000, and our finance products are specifically tailored for the community sector. We have waived arrangement fees to make loans as accessible and cost-effective as possible, we have a quick turnaround time for lending decisions, and – given the organisations we lend to are typically run by volunteers – we do not ask for personal guarantees.

“Since the start of 2020, Community Finance Ireland has already approved loans of €3,900,000, supporting community organisations to acquire new premises and equipment, restructure current debt, and bridge financial gaps caused by delayed grants or other postponed income. The new SFF initiatives announced today will ensure we can continue this important work well into future years.”

Donal Traynor, Associate Director of Community Finance Ireland

Credibility of social finance sector
Mr. Traynor said the SFF initiatives – and the support for them from industry groups – demonstrate the credibility of the social finance sector, and will open up funding opportunities to a wider range of community groups.

“This commitment from Banking and Payments Federation Ireland is a testament to the credibility of the social finance sector, and to the strong performance of our diverse loan portfolio over the past 12 years.”

He added:

“There has been a default rate of just 0.25% on our loans since 2008, which is low by any standard and particularly when you consider that the majority of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time.

“Meanwhile, the loan guarantee from the European Investment Fund will allow Community Finance Ireland to consider those deals where, previously, social finance could not provide the funding due to the level of risk involved, and potentially where the absence of realisable security may have been the difference in making funds available.

“At a time when communities across Ireland have been sorely tested and when many community groups are feeling the strain, today’s SFF announcement is good and welcome news for our sector.”

Donal Traynor, Associate Director Community Finance Ireland
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We are doing everything possible to support community organisations in coming to terms with the unprecedented challenges now faced by all.

We want to assure you, that we are behind you and will help and support in any way we can. 

To all our clients:

  • Your local client executive continues to be available to you.
  • Flexibility and Fairness is our customer experience. This remains. Our team are working remotely, in line with public policy. 
  • Collaboration with our capital providers continues and we are working, with them, right across the island of Ireland, in the best interests of the sector.

To the Sector in general:

  • We have always understood the importance of collaboration.
  • We remain open to listening to you and your ideas.
  • We remain committed to supporting communities and those who need our assistance.

Please ensure you keep yourself updated with the relevant expertise.

Northern Ireland www.health-ni.gov.uk/

Republic of Ireland www2.hse.ie/coronavirus

Wash your hands. Practice Social Distancing. Stay Safe.