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This week Ulster Community Investment Trust Ltd t/a Community Finance Ireland held its all island Annual General Meeting (AGM) in Belfast’s Clifton House. As part of the AGM, the team officially launched its Annual Report for 2022.

The report published today highlights the following key takeaways:

  • Ulster Region: £2.8m (€3.2m) of loans into 28 organisations
  • Leinster Region: £3.1m (€3.5m) of loans into 38 organisations
  • Munster Region: £0.9m (€1.0m) of loans into 16 organisations
  • Connacht Region: £0.6m (€0.7m) of loans into 7 organisations
  • £6.5m to 231 communities via much needed grant payments funded by the Department of Communities NI and in collaboration with NICVA
  • £5.8m in loan support to 186 SME clients through the management of the Invest NI sponsored NISBLF Fund II since 2018, in collaboration with Enterprise Northern Ireland.

With a client portfolio, whose core assets are predominately its volunteers, the 89 projects saw their own belief mirrored back to them and secured term or bridging loans which supported them in:

  • Providing access to facilities and services for their local area
  • Expanding their businesses and growing their memberships
  • Improving their sustainability and helping them achieve their long-term goals

In what was another extraordinary year for the history the organisation and for the communities and citizens on the island Donal Traynor Group Chief Executive highlighted the following in his welcome video message:

To learn more about Community Finance Ireland and discover the inspiring stories of the organisations we supported in 2022, please visit here.

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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:

Northern Ireland

  • £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.

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Social finance is a unique form of funding. It helps communities and social enterprises make progress and build sustainable services whilst creating that elusive “social impact” footprint.

It can help projects move to the next exciting stage and many of our clients have done so by accessing both flexible term and bridging loans.

Here at Community Finance Ireland, our team have 21 years experience working with sports clubs (Kilcoo GAC, Co. Down), health/social care services (Foyle Women’s Aid. Co Derry), community halls (Billy’s Tea Rooms Co. Kilkenny) and digital hubs (Sneem Co. Kerry); all of whom have found that social finance enabled them to achieve social impact in their local communities.

A social enterprise, charity or community-led organisation may find themselves looking at their finance needs when assessing a project. While grants can play a role in supporting their objectives, there are those in the sector who also understand that a loan can be part of the solution and help build that new sports facility, re-roof the church, support additional employment or build office facilities in a remote village.

If your organisation is considering a new project, restructuring its finances or has an idea that will drive social impact then here are the Top 5 Tips that will make it easy for you to apply for a social finance loan:

Top 5 Tips for Success:

  • Tell us about yourself

Share what issues you are seeking to address, the facilities you wish to develop or the opportunity you see in your local communities.

  • Confirm Eligible Legal Status

Ensure appropriate governing documents are in place and the applicant organisation has the appropriate power to borrow. Outline the details of those responsible including the list of Directors and/or Trustee

  • Management Team

Highlight the positive attributes of the people behind the project, including: Commitment to improving their community, Track Record, Professional Experience and Skills. Also, evidence clear communications and insights along with sound financial management skills.

  • Financial Performance

Financial stability is a key way to show your organisation will be able to repay a  loan. Alongside financial stability, factor in the social and environmental impact too.  Your ability to repay is assessed by looking at past, present and future finances. These typically include:

  1. Access to previous projects results.
  2. A review of past audited accounts.
  3. Assess relative trends and fundraising capacity.
  4. Recent management accounts, loans held, bank statements and debtors/creditors listings.
  5. Future financial projections.
  • Demonstrate Social Impact

Typically our successful clients are driven by local job creation, local facility development, delivery of health & social care support plus the promotion of diversity and inclusion.

Our Clients Choose Us, as We Offer:

At Community Finance Ireland, We Speak Finance. But We Hear People.

In summary, social finance continues to grow in popularity as a route to helping change-makers deliver the change they want to see and be part of. Whatever you see and whatever it is that you dream of we are waiting to hear from you.

Get in touch here: https://communityfinanceireland.com/contact/

Ends.

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As an all-island brand, with a growing team, our colleagues live and work in Down, Antrim, Meath, Donegal, Waterford, Limerick, Cavan, and Louth. Whilst they also have the option to work at our dedicated office spaces located in Ardee, Co. Louth or in Belfast City Centre.

In light of both the NI and RoI governments’ decision to relax Covid restrictions our team are now working “the new norm”.  

With Northern Ireland’s growing confidence in an office versus home working environment and the Republic of Ireland creating a Bill to pass legislation protecting employees working from home (The Right to Request Remote Work Bill 2021) the traditional five days a week, office based working model is now clearly in transition.

Our team at CFI, have technically spent the best part of the last two years working from home (often at the kitchen table or in some cases a bedroom) and as we settle into our new norm, we asked our people what were the pros and cons they learnt from their experience and how will this experience support them in their day-to-day delivery of social finance solutions to grassroots community clients and projects.

Here’s what they had to say:

“With my home base at Strangford Lough, a hybrid working model allows me to maximise my use of time effectively as I can block out days for new client meetings and when at home, focus on administrative aspects.”

Phelim Sharvin, Head of Community Finance N.I

“Hybrid working is great and allows all colleagues to work where most comfortable. For me, being in the office is important for setting my own boundaries between work and home-life.”

Peter Smyth , Client Relationship Manager N.I

“Working from home has really helped me flourish in my career. I thrive on quiet time where I can focus on strategic papers or analytics and have found zoom meetings suit my working style.”

Nicky McElhatton, Marketing and Social Media Executive

“I joined CFI during the pandemic. My role is Front of House and I really enjoy the office environment. With a newly designed office space in Belfast, I can continue to work safely alongside others.”

Nick Heath, Front Office Administrator

“Having a blend of working-from-home and the office breaks up the week. With a flexible working schedule, this has really helped give me an improved work-life balance.”

Stephanie Nicholl, Compliance Officer

“Working-from-home is something I have gotten used to. Although, I do miss the aspect of being in the company of my colleagues as work relationships are not always the same behind a screen.”

Sandra Cowan, Finance Officer

“My week is usually now 70% office based with 30% working-from-home. I have adapted well to this new rhythm and have also found that as a Manager of a team, the trust with my people has improved greatly.”

Barry Connolly, Group Chief Financial Officer

“The ability to work remotely has given me the chance to spend more time at home. With less distractions, my time spent working is more productive and I have my cats for company, all day.”

Emma Thompson, Finance Executive

“A blended approach allowed me to meet colleagues whom I would not of come into contact with as much whilst working remotely. I am able to create relationships were I can reach out to colleagues from different departments which is hugely beneficial as I start my career.“

Jack Lennon, Marketing Intern

“Hybrid working works excellently for me with a team based all over the country. It offers me the ability to work wherever I might be needed, for both my team and my clients. As long as my phone and laptop charger are optimized, I find the flexibility of different working locations can ensure I can be where I am needed at all times.”

Emmett O’Hara, Head of Community Finance RoI

“My role finds me on the road quite a bit, meeting clients. This regular travelling is balanced by my ability to work from my home on days where I am liasing with other team members and assisting clients from a remote location.”

Anne Graham, Client Relationship Manager Donegal and Connacht

“My role has always been remote and as such, the hybrid working model has little impact on that working style. But what has been welcome, is that many of my colleagues now also have the same working pattern.”

Barry Symes, Client Relationship Manager South East Leinster and Waterford

“I joined Community Finance Ireland just over six months ago and have found zoom meetings invaluable in helping me connect with my new work colleagues.”

Nora Keogh, Client Relationship Manager Munster

“Working from the office is a key benefit to me that helps with my part-time hours and the logistics of family life. Office based work continues to be my personal choice but it’s great to have the ability to work from my kitchen on occasion.”

Terri Martin, Office Manager and Micro-Finance Lead RoI

“Working remotely has never been a barrier to my ability to deliver great work or to engage my colleagues or agency partners on key projects. I have found that meeting in person is always welcome but that with excellent IT support working from home offers a flexibility that really suits my way of working. This new norm has shifted me from a ‘work – life balance’ view to a ‘life –work balance’ view and I love it.

Lita Notte, Head of Marketing and Communications

“A hybrid structure has worked well for me. With the flexible option of remote work or going to the office I have a genuine sense of work-life balance. Time not spent commuting has been redirected to time spent in my local community.”

Pauline Carolan, Office Administrator

“A hybrid working system has been great for everyone here at CFI. With a small team, it allows us to grow resources in all regions of the island and connect with all communities. We swiftly introduced technology and IT supports to help our people and give them the tools they needed to continue to liaise with clients and each other. For me personally, it is great to have a balance with a new Belfast office acting as a hub in more recent months.”

Donal Traynor, CEO Community Finance Ireland

In summary, much like the uniqueness of our people, hybrid working offers different things for everyone. But in essence flexible working practices (either office or home) is successful and our team are very much “fans” of the new norm.

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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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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.

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Community Finance Ireland were awarded the coveted All-Ireland Business All-Star accreditation at an event held in Croke Park earlier this month.

Pictured is Donal Traynor Associate Director Community Finance Ireland with Kapil Khann Managing Director All Ireland Business Foundation.

This is an independently verified standard mark for indigenous businesses, based on rigorous selection criteria.

The accreditation, overseen by the prestigious All-Ireland Business Foundation, whose adjudication panel is chaired by Dr Briga Hynes of the Kemmy Business School at the University of Limerick and Kieran Ring, CEO of the Global Institute of Logistics.

Dr Hynes said the accreditation, now held by over 350 firms, is needed by the thousands of small and medium businesses, which operate to their own standards, but have nothing to measure them by. “We evaluate a company’s background, trustworthiness and performance, and we speak to customers, employees and vendors,” she said.

“We also anonymously approach the company as a customer and report back on the experience.The business goes through at least two interviews and is scored on every part of the process against set metrics.”

Dr Briga Hynes, Kemmy Business School (University of Limerick)

The All-Ireland Business Foundation is responsible for overseeing the All-Ireland Business Summit and All-Star awards, ongoing All-Star accreditation, Thought Leader awards and promoting peer dialogue among members.

Donal Traynor on receiving the award says:

“We are a people business. We are delighted that this recognition offers us a platform to reach more people and to continue to raise awareness of Community Finance Ireland. Thank you to the foundation for welcoming us to this professional group”.

Donal Traynor, Associate Director of Community Finance Ireland

For more information check out Community Finance Ireland’s profile on the Business All Star Awards website.

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