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Tag: Social Impact

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First cross-border workshop held in Derry~Londonderry as part of delivery programme for project supported through the International Fund for Ireland.

An ambitious cross-border project is bringing people together to deliver a capacity building programme that will make border communities more sustainable.

NetWORKS23 is funded by the International Fund for Ireland’s (IFI) Communities in Partnership Programme (CiPP). It has a strong focus on developing and embedding sustainable relationships on a cross-border basis through supporting cooperation and innovation between groups and organisations North and South.

The project is being led by Community Finance Ireland in partnership with Rural Community Network. Both organisations bring a wealth of experience in social enterprise, finance, peace building and reconciliation.

Through a shared learning approach, NetWORKS 23 will facilitate cross-community and cross-border engagement with people who have had limited opportunities for collaborative working. The Project targets community and voluntary organisations in Derry, Sligo, Leitrim, Cavan, Fermanagh, Donegal and Tyrone.

Attending Networks23 event in Greysteel were left to right: Damian McAteer Community Finance Ireland Group Chair, Donal Traynor, Community Finance Ireland Group CEO, Columba Mailey, Manager of the Vale Centre, Bridie Mullen, Board Director Vale Centre and Paddy Harte IFI Chair.

Participants to date have attended residentials in Sligo and a cross-border workshop in Greysteel at the Vale Centre. The daylong seminar provided practical insight into the Vale Centre’s commercial activities,  revenue generation and how a social enterprise approach feeds into the public and social services offered to the wider community.

NetWORKS23 aims to build progressive partnerships that will deliver meaningful benefits for communities on both sides of the border and raise awareness of the issues and challenges while also contributing to the wider peace building work of the IFI.

Commenting on the project, IFI Chair Paddy Harte says;

“The NetWORKS23 Project is timely as border areas have traditionally suffered from isolation, lack of investment and the ongoing legacy of The Troubles. It is important to examine how we can improve reconciliation between rural Unionist and Nationalist communities to help build resilience and develop local leadership. This initiative will provide the necessary training for participants to examine the long-term development of their own projects within a wider peace and reconciliation context.

The IFI is committed to delivering cross-community and cross-border outreach, encouraging challenging conversations to deal with a range of issues. We are particularly pleased to support this project under CiPP, which values innovation and the creation of positive and long-lasting relationships between cross-border communities who share similar challenges.”

Donal Traynor Group CEO of Community Finance Ireland had this to say:

“Community Finance Ireland are delighted to lend their support to this cross-border initiative. Our support for the ongoing prosperity and development of all communities has been in place for over 21 years and our commitment remains for this generation and the next.”

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Community Finance Ireland are delighted to announce that we have been awarded the Social Enterprise Mark Accreditation. This prestigious accreditation demonstrates that the company is creating real benefits for people and the planet, and is committed to social impact.

The Social Enterprise Mark is an independently assessed accreditation that recognizes organizations that are operating as social enterprises. This means that they are using business to create social and environmental impact, and are committed to reinvesting their profits back into their mission.

Community Finance Ireland’s CEO, Donal Traynor, expressed his excitement about achieving the Social Enterprise Mark accreditation, saying:

“We are thrilled to have received this accreditation, which confirms our ongoing commitment to creating positive social impact. At Community Finance Ireland, we believe that social finance can play a critical role in building a more equitable and sustainable future for everyone. Our recent Social Value Impact report and findings further demonstrate how social finance is working to achieve great results, and we are committed to continuing this important work.”

The Social Enterprise Mark is awarded by Social Enterprise Mark CIC, the leading global authority on social enterprise. To achieve the accreditation, Community Finance Ireland underwent a rigorous assessment process that evaluated the company’s social and environmental impact, governance structures, and financial sustainability.

SE Mark Donal and Stephanie
Community Finance Ireland’s Compliance Officer Stephanie NIcholl and CEO Donal Traynor awarded the Social Enterprise Mark Accreditation April 2023

As a registered social enterprise, Community Finance Ireland is committed to using finance as a tool for positive social change. The company provides affordable loans to community and voluntary organizations, social enterprises, and charities across Ireland, helping to build stronger communities and support important social causes.

As well as recognising Community Finance Ireland’s dedication to achieving high quality social impact, holding the mark demonstrates our commitment to effective good governance controls, stakeholder engagement, financial transparency and ethical and good business practices.

Stephanie Nicholl, Compliance Officer at Community Finance Ireland said:

“The Social Enterprise Mark recognises and builds the capabilities of social enterprises as sustainable businesses that are dedicated to maximising social impact. The Mark recognises the value of our social impact, specifically with our clients that we work with in the Social Enterprise sector across areas such as sport, arts and heritage, community organisations, faith and church groups and the workspace provision.”

Stephanie further explains the importance of the recognition in the short video below:

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Community Finance Ireland makes £340,000 available to water and mountain rescue schemes in Northern Ireland

Community Finance Ireland has provided North West Mountain Rescue Team with £150,000 funding, allowing them to upgrade their fleet of hi-spec rescue vehicles this autumn.  Along with £191,000 for Lough Neagh Rescue, this takes the total amount of funding provided to rescue schemes in Northern Ireland by Community Finance Ireland in 2022, to £340,000.

North West Mountain Rescue Team was established in Derry City in 1980 to provide a search and rescue service for the North West. The operational area has now extended to the geographical boundaries of Northern Ireland with the exception of the Mourne Mountains which is covered by Ireland’s oldest and one of its busiest teams, the Mourne Mountain Rescue Team.  In addition, because they are members of Mountain Rescue Ireland (MRI), they can provide support where needed to any of the ten other Mountain Rescue Teams on the island of Ireland.

Phelim Sharvin, Head of Community Finance Ireland Northern Ireland, said:

“Community Services like the North West Mountain Rescue Team are often at their busiest during the summer months. As we make the most of the longer days by taking to the waters or to the mountains, unfortunately the unexpected can happen.  Now North Mountain Rescue Team is better equipped to respond swiftly and safely to emergency calls.

“The recent social finance provision in Northern Ireland builds on our previous success with rescue schemes in the Republic of Ireland; South Eastern Mountain Rescue in Co. Tipperary and Glen of Imaal Mountain Rescue Team in Co. Wicklow, both of whom we have worked with since 2016.  It brings our total investment in Rescue Schemes on the island of Ireland to £0.83m.”

Treasurer at North West Mountain Rescue, Andrew Kelly, said:

“North West Mountain Rescue Team gained charitable status in 2014.  We provide a year-round, 24 hour call-out service at the request of the Police Service of Northern Ireland (PSNI) and to minimise response times, the team is organised into three Sections based in Enniskillen, Magherafelt and Ballymena covering the West, Central and Eastern Sections respectively.  All rescue is carried out by our volunteers, who are expected to respond in all weather conditions, requiring enormous commitment from team members.

“Through this funding the team has been able to purchase a Ford Transit and Toyota Hilux. These vehicles are highly customised to perform their chosen roles, namely: patient extraction and command and control. We are delighted with the support from the team at Community Finance Ireland who recognised the value of our work and supported out application.” 

For information on how social finance could support your organisation, visit https://communityfinanceireland.com/

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Ireland has celebrated a summer of sporting success at national and international level, but when we look to the grassroots of our sporting heroes, we must see how much more we could achieve with investment in community facilities. That’s according to Community Finance Ireland, who today (23.09.21) launched a new €5 million fund offering social finance solutions to sports clubs across the island of Ireland.

The new fund will make flexible loans of €10,000-€500,000 available to sports organisations seeking to make a change in their local community whether that is to renovate changing or training facilities for their players and participants, or to improve local infrastructure that makes their club grounds more accessible for the local community.

The fund launched today at an online event, ‘Financial As Well As Physical Fitness Is Key To Success’, with panellists including Sinead Reel, Chairperson of Armagh Ladies’ GAA County Board, sports journalist with the Irish Times Joanne O’Riordan, and Irish Olympian Brendan Boyce who trains at the Community Finance Ireland funded Finn Valley Athletics Club in Donegal.

Speaking at the launch, Anne Graham, Community Finance Ireland Client Relationship Manager said:

“Our athletes have been blazing a trail across tracks, pitches and pools, and inspiring our next generation of sporting heroes. While it’s been a summer to celebrate, it’s also challenged all of us to consider how much more we could achieve, how much more support we could provide our aspiring Olympians or All-Stars, with greater investment in grassroots facilities and clubs.

Every community will be looking to their local pitch, climbing wall or tennis court to see where improvements can be made to upgrade equipment, develop more accessible and inclusive facilities, or perhaps to make the circuit around a pitch or track a safe public walkway for the community to keep active on those darker winter nights by installing floodlights.

Wherever a club sees an opportunity to invest in their local community, we want to put the power to make that change into their hands with fast, flexible, fair loans that can be used to bridge gaps in their funding, unlock drawdown of government grants, or provide much-needed project finance.

We work closely with sports clubs across the country, in fact they make up over a third of the organisations we work with, so we know what they need. We know that volunteers and board members aren’t in a position to provide personal guarantees, so we don’t ask for them; we know funding streams can be unpredictable, so we don’t change our interest rates or hand out penalties for early or lump-sum repayments”.

Anne Graham- Client Relationship Manager, Community Finance Ireland

Patsy McGonagle, Chairman of Finn Valley Athletics Club, worked with Community Finance Ireland to make essential improvements to their grounds in 2013.  He said:

“We’re providing a modern facility in an area where there’s very little opportunity. The mental impact that’s had on the community, the physical and social impact – it’s all positive. When there was a shortfall and we needed money, Community Finance Ireland’s welcome and their approach made it a win-win for us big time. They were very responsive, easy to work with. It was a great experience. The facility would not exist were we not to get that finance.”

Patsy McGonagle- Chairman, Finn Valley Athletics Club

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 – £500k (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, Nora or Anne depending on where you and your team are located.
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Following a summer where local sporting heroes made their mark at national and international level, Community Finance Ireland has launched a £5 million fund aimed at sports clubs throughout the island of Ireland. 

The new fund will make flexible loans of £10,000-£500,000 available to sports organisations seeking to make a change in their local community whether that is to renovate changing or training facilities for their players and participants, or to improve local infrastructure that makes their club grounds more accessible for the local community.

The fund launched today at an online event, ‘Financial As Well As Physical Fitness Is Key To Success’, with panellists including Sinead Reel, Chairperson of Armagh Ladies’ GAA County Board, sports journalist for the Irish Times Joanne O’Riordan, and Irish Olympian Brendan Boyce who trains at the Community Finance Ireland funded Finn Valley Athletics Club in Donegal.

Speaking at the event, Phelim Sharvin, Head of Community Finance (NI) at Community Finance Ireland said:

“The considerable appetite for finance from the sports sector shows no signs of slowing down, with almost a third of queries to our website coming through from sports clubs . 

The success of NI sports people this summer has meant that there’s increasing demands on clubs who are experiencing growing membership and interest in their offerings.  We know that the flexibility of the loan terms, alongside the speedy decision-making process makes this an attractive product for sports clubs. 

With just over a third of loan applications last year coming from the sports sector, this is an area Community Finance Ireland know really well.  In the period June 2020-June 2021, queries from sports organisations were higher than ever with roughly a quarter of these approaches coming from Northern Ireland. Interest from GAA and football clubs continues to be strong, however we’re starting to see engagement from less traditional disciplines like gymnastics and cricket where increasing membership requires additional space and therefore investment in facilities.” 

Phelim Sharvin- Head of Community Finance (NI), Community Finance Ireland

Flight Gymnastics in County Antrim, a client of Community Finance Ireland since 2017, has experienced a 300%+ increase in membership in the past 24 months. Andrew O’Hare and Judith Hindes attribute recent growth in part to the Olympics, but more so coming out of lockdown and the need younger people have to develop much needed fundamental movement and social interaction skills greatly affected over the last 18 months.  

Andrew O’Hare from Flight Gymnastics said:

“We’ve been working with Community Finance Ireland since 2017, accessing finance for working capital and the installation of a specialist heating system in our premises. The relationship we have with the team means they know our business and how we work and the fast decision-making process means that we can be as flexible as possible in responding to the changing needs of our members.  Due to a significant increase in our membership base we’re currently looking at expanding our premises and we know that Community Finance Ireland understands how important this facility will be, not only to us but to our members and their families.”

Andrew O’Hare, Flight Gymnastics

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 – £500k (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, Nora or Anne depending on where you and your team are located.
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