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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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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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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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