*PICTURED: Clann Credo CEO Mary Lawlor, Minister for Finance Jack Chamber and Clann Credo Chair John O’Callaghan
A SOCIAL finance organisation which has loaned €215m to more than 1,500 projects in Ireland is looking to meet community groups from County Clare this week.
A registered charity, Clann Credo is a social finance organisation with its mission being to support community development through affordable access to loan finance.
Following on from Clann Credo’s National Conference the group is rolling out a series of Social Finance Clinics across Munster.
Everyone is invited to join the Clare clinic on Thursday November 21 from 12-3pm, at the clubhouse of Clarecastle GAA.
The clinic is designed to support community organisations, sports clubs and social enterprises which are currently seeking finance to assist with upcoming projects.
SOCIAL FINANACE
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; 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 it.”
Clann Credo has supported many, many types of projects; community centres, sports facilities, environmental sustainability projects, childcare facilities, social housing, youth projects, community owned tourism attractions, arts centres, and many more.
The group has experienced and regionally-based staff who know your area and provide ongoing supports.
“Our expert 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 Clare Echo, “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 Loans to assist the drawdown of grants, Term Loans for a wide range of products 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 Clare 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 Tony Marshall – tony@clanncredo.ie / 086 042 9403; Sinead Coffey – sinead@clanncredo.ie / 083 021 9334; or Sarah Leahy – sarah@clanncredo.ie / 086 042 9323,
Event location: Clarecastle GAA, Ballaghafadda East, Co. Clare
Time: Thursday, November 21, 12-3pm.
