A SOCIAL finance organisation, that has provided loans of €215m to over 1,500 community and voluntary organisations nationwide, is looking to meet with community groups from West Cork this week.
Since 1996, Clann Credo has provided affordable loan finance to community organisations with the aim of generating social benefit.
As part of the community and voluntary sector, it is committed to supporting organisations with social finance to enable them to realise their visions.
Following on from Clann Credo’s national conference in September of this year, the group is rolling out a series of social finance clinics across Munster.
Everyone is invited to join the West Cork Clinic this Wednesday, November 27th from 12-3 pm, at Brookpark Business Centre, Dunmanway (P47 RX28).
The clinic is designed to support community organisations, sports clubs and social enterprises that are currently seeking finance to assist with upcoming projects.
SOCIAL FINANCE
Social finance is an alternative model of investment, differing from conventional models in that it demands investments produce both a social and financial return – guided in its aim of generating a tangible social benefit for the community.
'As a social finance provider, we don’t just look at your accounts, we look at your social impact', says Sinéad Coffey, social finance executive with Clann Credo. Clann Credo can support groups in the planning stages of a new project, and help in assessing a group’s finances and capacity for future development.
'We know that volunteers have big ambitions but not a lot of time on your hands, so we make our social finance as easy to access as possible – your local Social Finance representative will guide you through the process'.
Clann Credo has supported many projects; community centres, sports facilities, environmental sustainability projects, childcare facilities, social housing, youth projects, community owned tourist attractions, arts centres, and many more.
The group has experienced and regionally-based staff who know your area and provide ongoing supports.
'Our team will walk on the journey with you through the whole process, from first vision to final payment'.
No personal guarantees are required on potential loans, and there is no penalty to your organisation for early repayment.
BACKGROUND
The group was established in 1996 by Sr. Magdalen Fogarty and the Presentation Sisters, following a period of high emigration and unemployment.
Ms Coffey says that all groups are welcome to attend, including those without a shovel-ready project.
She told The Southern Star, 'our staff are regionally based, and we offer a dedicated person assigned to assist through the loan process, from application stage to final payment. In the last 28 years we have loaned €215m to more than 1,500 community and voluntary projects throughout the country. Our aim is - that lack of access to finance is never a barrier to a community vision or ambition'.
'We offer loans to a wide variety of project types. Our products include: bridging finance to assist with the drawdown of grant funding, and also term finance for a wide range of projects including but not limited to: property purchase, construction or renovation, match funding to complete capital projects, debt restructure/refinance, working capital. Any project that delivers a social impact will be looked at'.
'We recognise that finance can be a catalyst for good in the community. We are already heavily involved in the West Cork region and working with some wonderful groups in a variety of sectors'.
You can drop in on the day, or book your place by contacting:
Sarah Leahy – [email protected] / 0860429323
Tony Marshall – [email protected] / 0860429403
Sinéad Coffey – [email protected] / 0830219334
Event location: Brookpark Business Centre, Dunmanway, Co Cork, P47 RX28
Time: This Wednesday, November 27th, 12 - 3 pm.
