Today (16 June 2022) Ulster Community Investment Trust Ltd t/a Community Finance Ireland held its all island AGM in person for the first time in three years. As part of the AGM the team officially launched its 2021 Annual Report.
The report published today highlights the following key takeaways:
- £2m of loans into 14 local projects;
- £7.2m to 354 charities via much needed grant payments in collaboration with Department of Communities NI and NICVA; and
- £4.4m to 152 SME clients through the management of NISBLF Fund II since 2018.
Republic of Ireland
- €2.2m of loans into 26 projects in the Leinster Region;
- €1.2m of loans into 15 projects in the Munster Region;
- €0.1m of loans into 4 projects in the Connacht Region; and
- €1m of loan approvals into 17 projects in Ulster (excluding NI).
With a client portfolio, whose core assets are predominately its volunteers, the 76 projects saw their own belief mirrored back to them and secured term or bridging loans which supported them in:
- Keeping their doors open;
- Pivoting their business;
- Ensuring their viability when their services were needed more than ever; and
- Ensuring their sustainability as the island transitions to a new normal.
In what was another extraordinary year for the history the organisation and for the communities and citizens on the island of Ireland Donal Traynor Group Chief Executive said the following:
“Our team continue to ensure social impact is felt not just dreamt and 2021 was no different. Dreams were realised and progress was felt right across the island. Choose change is indeed the mantra of the sector and the volunteers who keep it vibrant. We are delighted to be part of that change, whilst recognising there is always more to do.”.Donal Traynor, Group Chief Executive Community Finance Ireland
View the report in full here.