Our all island team are very aware that every small step can help the enormous challenges that climate change and sustainable choices can make to our everyday lives and the planet at large.
We moved “house” in 2021 and had almost 15 years of paperwork stored in boxes that needed to find a home too. Step up Shred Bank, who shredded those old files, helped recycle it and helped us save five trees.
Our client Western Forestry Co- Operative, based in Sligo town have often told us that “trees are the lungs of the earth” and their passionate CEO Marina Conway is a key change-maker herself in the preservation and love of trees.
Marina featured in one of our first Change-maker podcasts and you can hear her views on sustainable forestry here:
This time last year we all had hopes that the Pandemic would be done and dusted. We are all aware this didn’t happen and, as we close off another year we will continue to live with its effects for a while yet.
Whilst we acknowledge Covid continued to affect us during the past 12 months, we can confidently say that we supported both our clients and key stakeholders to achieve progress and ensured that, whilst we were often asked to stay apart, we came together in ways that helped our clients deliver health, happiness and hope.
We took the opportunity to grow our local footprint and welcomed new team members Emmett, Anne, Pauline, Nora, Nick, Stephanie and Jack.
In Belfast our new head office was finally able to open its doors and support our new norm that is a hybrid working model.
We helped deploy £7.1m to 354 charities on behalf of Department for Communities via the Covid- 19 Charities Grant Fund.
We collaborated with Joanne O ‘Riordan of The Irish Times, Brendan Boyce Olympian Athlete and Patsy McGonigle of Finn Valley AC on the launch of our All Island Sports Fund
We continued to work with key stakeholders such as Invest NI, Enterprise NI and Department for Communities in Northern Ireland, as well as Social Finance Foundation, Rethink Ireland and DCU in the Republic.
We listened to and worked with 91 enquiries.
We welcomed an additional 62% increase in followers across our social media channels
All of the above are indications that despite hurdles the sector continues to seek support, insights and social finance.
Donal Traynor, Group Chief Executive, said the following:
“Whilst the Pandemic continues to challenge all communities we have seen greater solidarity across the whole island of Ireland. Clients are responding with innovative fundraising initiatives as-well as migrating to an online service (an investment we ourselves undertook in 2020) to help make the provision of services easier and sustainable.
The sector itself is not immune to trends. We expect to see hybrid events and campaigns plus sustainable, remote working facilities, as well as questions around how we play our part in supporting climate change targets.
All of the above offer the opportunity for us to continue to work with clients who want to ensure social impact is felt not just dreamt – we are here listening all the time and committed to finding solutions that support that ethos”.
Donal Traynor, Group Chief Executive
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Today CFI’s impact was evidenced as Nora Keogh Client Relationship Manager for the Munster region, provided support to local social enterprise Limerick Gateway to Education.
Nora met with the brilliant charity, based in Limerick City, to hear first-hand how they are working to address social and economic barriers to education.
Our thanks also to the Limerick Leader for also recognising the merits of this organisation and featuring the organisation’s story in the local business section of the paper and online on theilovelimerick.ie website.
Community Finance Ireland delivers social finance solutions that support local communities and drive social impact through sports, community projects, faith-based groups, and social enterprises.
Community Finance Ireland was established in 1995, and now supports a diverse portfolio of clients across the island of Ireland from Bantry to Belfast, and from Dublin to Dingle.
Currently, Community Finance Ireland is the only Irish and UK member of FEBEA, the European Federation of Ethical and Alternative Banks.
Pictured above: Nora Keogh (CFI Client Relationship Manager Munster) with Limerick Gateway to Education’s Andy Fogerty (Accountant), Paul Goodwin (Assistant Manager) and Suzanne Roche (CEO , Founder).
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 fullhere.
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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.
This week’s Change-Maker is Phelim Sharvin, Client Executive from Strangford, County Down. Working with clients likeForkhill Childcare and Aghavea Parish Church in Northern Ireland, Phelim is passionate about local area regeneration and all matters relating to community development.
Just two of Phelim’s clients: Forkhill Pre-School (Left) and Aghavea Parish Church (Right)
What did your journey to Community Finance Ireland look like?
I joined the team at Community Finance Ireland in 2002, before that I worked in the private sector. I studied European Regional Development, Economics and Business Management at degree and master’s level. In the last few years, I’ve supplemented this with Charter Banker accreditation and a Professional Diploma in Banking. My time working in Community Finance Ireland has given me an extensive knowledge of the Social Finance sector, in particular, Credit, Risk and Portfolio Management. I’ve been responsible for the CFI Northern Ireland portfolio since 2007 and have worked on developing loan products and funds in the areas of local sports, childcare, green energy and start-up social enterprise.
What does your current client base look like? Are there sectors you expect to see or want to see growth in?
Our clients in Northern Ireland represent a broad mix of sectors ranging from sports clubs and faith-based organisations to training providers, green energy schemes and health & social care providers, and are spread across virtually all rural & urban communities in Northern Ireland.
Sports, Social Enterprise, Faith and Workspace are the largest sectors represented, with some clients being long-established and others are more recently formed. Due to the pandemic and other changes in society I can see health & social care growing in the future.
Do you have a client that, in your opinion, best demonstrates the impact Community Finance Ireland can have?
For me, it would have to beArtspace CIC. It’s a specialist facility that currently caters for up to 40 people with complex support needs. A placement fee is paid to Artspace by WHSCT for providing bespoke support to individuals with challenging physical and mental disabilities. CFI have provided finance on three separate occasions to Artspace and helped it grow and deliver its essential service to its user group.
How do you switch off from work? What are your hobbies and interests?
I am interested in Sport, local history and Community Development. I have long history of being involved in a range of voluntary management committees including prominent positions in my local GAA Club, local Community Association and Festival Committee. And in my spare time I have coached GAA and Soccer across a range of age groups from U8 to Senior level.
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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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.
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 ofLurgan BBOBwhere 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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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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