1 / 18

Irish Rural Link Presentation June 2011

Irish Rural Link Presentation June 2011. In July 2006, the Government approved the implementation of the Social Finance Initiative. A not-for-profit company (limited by guarantee and having no share capital) A wholesale supplier of funding for social finance

nasya
Télécharger la présentation

Irish Rural Link Presentation June 2011

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Irish Rural Link Presentation June 2011

  2. In July 2006, the Government approved the implementation of the Social Finance Initiative. A not-for-profit company (limited by guarantee and having no share capital) A wholesale supplier of funding for social finance Operates through Social Lending Organisations (SLO's) that it funds to interface with the borrowers. (E.g Clann Credo)

  3. “Social Finance has as its prime purpose, care of people and communities” – Sr Magdalen Fogarty, Founder Clann Credo

  4. Background • Formed 1996 • Not-for-profit - Registered Charity • Over €30M invested in over 250 projects • Fund size €15M • Funded by Charitable Organisations and Foundations by way of Investment (not grants)

  5. What is Social Finance? Social Return + Capacity to Repay Access to Finance for: - Community & Voluntary Sector - Charitable Organisations - Community Businesses - Social Enterprises

  6. ProjectsSupported • Social Housing • Community & Enterprise Centres • Sports Facilities (including GAA/soccer clubs) • Elder and Youth Care • Environmental Projects • Community Arts/ Drama • Accessible / Rural Transport

  7. Social Dividend

  8. Property purchase, construction or refurbishment Working Capital Loans Short Term Bridging loans against future Fundraising Income or LEADER grants. Matching Funding e.g. 25% of project funding under LEADER grant funded project. Loans to purchase equipment and vehicles Loan Purpose

  9. FinancialProducts • Amounts financed from €5,000 - €1,000,000 • Interest rates in region of 5% p.a. • Collateral may be taken as security (if available) • Terms of up to 15 years • Capital Repayment Moratoriums available for an initial period of up to 2 years

  10. Clare Family Resource Centre • Community childcare facility • providing affordable quality service. • Project had good track record over • a number of years. • New Centre opened in late 2008. • Centre part financed under NCIP • Childcare Program. • Clann Credo provided balance of capital • finance towards overall funding cost. • Repayments funded from fees / grants

  11. Lisdoonvarna Fáilte • Integrated leisure, recreational and community facilities. • Involves GAA, astro turf, playground, childcare and community hall. • CCL provided bridging and term facilities.

  12. Kilkee Housing Ass. • Development of 29 social housing units • Clann Credo provide part of capital cost. • Repayment from rental income

  13. Difference from Mainstream Financial Providers • Mission & Purpose • Value Based Use of Financial Capital • Attempting to meet the needs of projects

  14. Difference from Mainstream Financial Providers • Flexibility in devising product for client • Access to other grant / loan funding • Track Record of almost 15 Years • Networks of Customers

  15. Difference from Mainstream Financial Providers • ‘Unbankable’ Loans • No personal guarantees • Transparency of Relationships • Still lending !!!!!

  16. Thank You

  17. Further Information • http://www.sff.ie/ • www.clanncredo.ie • http://www.ucitltd.com/ • www.socialenterprise.ie

More Related