Over €100m available for social enterprise through Community Finance (Ireland)
Over €100m in funding is currently available for social finance through the newly rebranded Community Finance (Ireland).
The fund was previously known as Ulster Community Investment Trust (Ireland), which has been operating for the last 20 years. It’s part of the UCIT Group which has invested more than €70m in over 400 community and volunteer organisations across a range of sectors and projects. , including enterprise and workspace projects, rural development projects, childcare schemes, housing associations, community transport, energy & environmental initiatives and sports and recreation facilities.
“Our organisation is a volunteer led organisation which was established in response to the decreasing financial support and the difficulties experienced by community organisations in accessing finance,” said Donal Traynor, associate director of Community Finance (Ireland).
“With over €100m available in funding, Community Finance (Ireland) is targeting organisations and social enterprises which are delivering an immediate social impact to the community but cannot access finance from traditional lenders like banks or building societies. Community Finance (Ireland) wants to ensure that the services provided by these organisations are not restricted due a lack of finance.”
The rebrand was officially launched by the recently appointed Minister for Social Enterprise, Ann Phelan. The launch was held at the School of Food in Thomastown, Kilkenny, a custom developed food training and food business support centre, part of the community-led ‘Town of Food’ initiative, which has received support from Community Finance (Ireland) in the past year.