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Today (16 September 2021) Ulster Community Investment Trust Ltd t/a Community Finance Ireland held its all island AGM and officially launched its 2020 Annual Report.

The report published today highlights the following key takeaways:

Northern Ireland

  • £3.1 m of loan approvals into 37 local projects;
  • £9.1m to 315 social enterprises via much needed grant payments in collaboration with Department of Communities NI and SENI; and
  • £ 4.1m to 140 SME clients through the management of NISBLF Fund II.

Republic of Ireland

  • £2.6m/ €2.7m of loan approvals into 37 projects in the Leinster Region;
  • £1.4m./ €1.67m of loan approvals into 32 projects in the Munster Region;
  • £0.6m./ €0.5m of loan approvals into 25 projects in the Connaught Region; and
  • £4.4m/€4.6m of loan approvals into 72 projects in Ulster (including NI).

With a client portfolio, whose core assets are predominately its volunteers, the 169 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 an 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:

“The combined market conditions of Brexit and Covid left us all a little shaken in 2020. Yet it also stirred in us a reminder of the importance of access to social finance and the resilience of communities across our shared island.

Our partners in NI: Invest NI and Enterprise NI and Department for Communities, and in ROI SFF, Rethink Ireland and DCU also stepped up and showed their support to the ongoing sustainability and viability of the NFP sector.

It was a year like no other and yet we can confidently say that we supported both our clients and key stakeholders achieve great things and ensured that, when we were asked to stay apart we came together in ways that we could have only imagined.

As a result, we have much to admire and be proud of as our ongoing promise to ensure social impact is felt not simply dreamt continues”.

Donal Traynor, Group Chief Executive Community Finance Ireland

View the report in full here.

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Put aside 15 minutes and you might win our €250 thank you voucher.

The launch of a collaborative project that sees the best social minds in Ireland get the support of European funding and thinking, is currently Live.

Our team are working with @DCU, @Irish Social Enterprise Network and @Rethink Ireland in helping to establish what type of financial models are missing for the sector, what models are working elsewhere across Europe, and what might a vibrant future finance model look like.

At a recent sold out event to launch this exciting, 2 year, research initiative our CEO Donal Traynor shared his thoughts:

“Community Finance Ireland speaks finance but hears people and this collaborative project is very much about this ethos. Our team are delighted to work on behalf of the sector to ensure that today’s, and tomorrow’s, social enterprises have sustainable and innovative supports and solutions that can deliver results for everyone”

With the next phase of listening now open – the project team are asking all social enterprises to give their views and help shape solutions that will support the sustainability and success of this sector, today and into the future.

Open the link below and get your thoughts across before 6th August 2021.

https://socialfinance.ie/survey/

If you would like more information on the Financing Social Enterprise in Ireland project – click here.

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At Community Finance Ireland we take a hands-on approach when it comes to working with our clients. We put people first. When our clients call with a query, they hear a familiar voice at the end of the phone. They know the face who is at the other end of an email. Our Change-Makers are on the ground, supporting communities, meeting clients and making an impact in their regions.

We speak finance but we hear people – So, we thought you might like to get to know them a bit better.

Our third Change-Maker takes us to Northern Ireland and to Peter Smyth. Based in Moira, County Down. Peter covers clients across Northern Ireland, working closely with the likes of Forkhill Childcare and Aghavea Parish Church.

Just two of Peter’s clients: Forkhill Pre-School (Left) and Aghavea Parish Church (Right)

What did your journey to Community Finance Ireland look like?

I studied Economics and Accounting at Queens University Belfast and went on to train as an accountant. From there, I worked as a Company Accountant for a large haulage firm before moving into the private banking sector. I spent 28 years working for an international financial institution in various roles such as Head of Invoice Finance, Business Banking Manager, District Manager and Head of Risk & Operations, before joining the Community Finance Ireland team in 2017.

What does your current client base look like? Are there sectors you expect to see or want to see growth in?

I have a very mixed and varied client base ranging from unincorporated organisations to charities and more sophisticated social enterprises. My clients include Local Enterprise Agencies, sports clubs, childcare organisations, community hubs, faith-based groups and mental health and wellbeing groups.

Coming out of the pandemic I would expect to see a growth in the number of organisations involved in addressing mental health and wellbeing issues.

How do you switch off from work? What are your hobbies and interests?

I am heavily involved in my local church as Church Treasurer and office bearer and also serve on the Board of 2 other faith-based charities.

I am a keen soccer fan and an avid follower of Leeds United and Glenavon. I serve on the Committee of Lurgan BBOB where my son is team captain and I spend every Saturday watching him play.

I walk a lot with my miniature dachshund and enjoy my annual fortnight’s holiday in Majorca each year. I also enjoy a number of weekend breaks with my wife. I also became a Granda in February 2020 and love spending time with my new granddaughter Annie Joy!

Now you know a little more about us, we’d like to hear about you.

If you and your team have a dream that could make a difference in your community, we’re here to listen. Whether you want to change something by solving a problem or creating an opportunity, we want to hear what you have to say.

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Community Finance Ireland has today (24 June 2021) announced a £/€10 million All-Island Recovery Loan Fund, its first all-island loan scheme. The fund will offer flexible loans of £10,000-£250,000 (NI) and €10,000 to €500,000 (RoI) to community sector organisations including faith-based groups, sports clubs and social enterprises.

Commenting on the launch, Dónal Traynor, Chief Executive of Community Finance Ireland said:

“Throughout the pandemic we witnessed the incredible resilience of the community sector, with many pivoting their offerings and exploring new opportunities for development.  The All-Island Recovery Loan Fund is open to organisations who want to build on these new opportunities to recover, rebuild or reimagine what they can bring to their local community.

“Despite the challenges of Covid-19 and public health restrictions, our client portfolios performed well over the past year and at Community Finance Ireland, we have nothing but confidence in the sector and its ability to play a pivotal role in bringing our local communities back together and to create something new in response to the changes our communities have undergone during the past year.”

Mr Traynor continued:

“The flexible nature of the fund with the added value of a one-to-one relationship with a dedicated client manager who knows the sector and the local area, makes it a great option for communities exploring how they can become more attractive locations for people to live and work.

“The All-Island Recovery Loan Fund supports longer term loans plus shorter-term bridging loans.  There are no time restrictions around funding and we will respond to applications within 48 hours of receipt.”


Here’s What You Need to Know

1. What loan product types are available?

  • Short term bridging loans to facilitate retrospective drawing of grant support (interest only, plus grant upon redemption).
  • Longer term loans with bespoke repayment schedules.

2. What geography does the fund cover?

  • Northern Ireland, Ulster, Munster, Leinster and Connacht.

3. What is the loan range?

  • £10k – £250k (NI).
  • €10k – €500k (RoI).

4. What is the term range?

  • 1 month – 180 months.

5. What is the interest rate?

  • Maximum 6.25%*, calculated on a reducing balance.
  • *The lowest maximum rate across the island.

6. Is there an arrangement fee?

  • No*
  • *The only bridging product available across the entire island to do so.

7. What security is required?

  • None on bridging loans.
  • Most of our term loans are also unsecured.
  • No Personal Guarantees are required.

8. Is there an Early Repayment penalty?

  • No.

9. How long does a loan decision take?

  • 48 hours for any loan request of up to £/€200k once we have all of your final information.
  • Up to 4-6 weeks for loan request in excess of £/€200k.

10. How do I apply?

  • You can get started now by clicking here and completing an online application.
  • Or if you need to chat to us first click here and we will arrange a follow up call with either Phelim, Peter, Emmett, Barry or Anne depending on where you and your team are located.

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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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