Ardee-based Community Finance Ireland lends €3.2m across Louth

Ardee-based Community Finance Ireland (CFI) has lent more than €3.2 million to community organisations, sports clubs and social enterprises across County Louth as it celebrates 25 years of supporting grassroots initiatives. To date, the organisation has provided €134 million in loans to more than 925 community organisations across the island of Ireland, helping fund projects that improve wellbeing, enrich local communities and create opportunities for people of all ages.

To mark its 25th anniversary, CFI welcomed clients, partners, funders and community leaders to a special 25th anniversary event at Leinster House, hosted by Louth TD Deputy Erin McGreehan. The event featured guest speakers including Minister of State at the Department of Finance, Robert Troy, community organisations and clients who shared inspiring stories of how access to social finance has made a difference in their locality.

Community Finance Ireland said: “Through its longstanding relationship with the Social Finance Foundation (SFF) in the Republic of Ireland, and the Department for Communities in Northern Ireland, CFI helps deliver flexible, impact-driven finance to organisations creating positive social change. CFI's latest Social Return on Investment analysis found that every €1 invested by the organisation generates €4.63 in social value.

“The organisation has supported projects in every county across the island that have enhanced quality of life, improved community facilities and strengthened local resilience. CFI is committed to supporting organisations that may struggle to access traditional sources of finance but play a vital role in sustaining vibrant communities.

“Since its first loan in 2001 as the Ulster Community Investment Trust (UCIT), the rebranded Community Finance Ireland has evolved from a Northern Ireland-focused lender into the only all-island social finance provider, serving community, voluntary and social enterprise organisations.

“Following its expansion into the Republic of Ireland in 2007, CFI continued to broaden its reach and rebranded as Community Finance Ireland in 2020, reflecting its commitment to supporting communities across the entire island.”

Commenting on this milestone, Dónal Traynor, CEO of Community Finance Ireland, said: "This important milestone for Community Finance Ireland is a moment to pause and reflect on the scale of the impact that the organisation has been able to achieve for communities, like those in Co. Louth, over the past quarter century. What sets us apart is that we are fundamentally built on relationships, not transactions.

“That means that everything we do is centred on the people who matter most, our clients and their communities. Every day across our island, transformative work is taking place that's driven purely by passion and dedication to local community. It's happening in our sports clubs, community centres, charities and social enterprises - places where people give their time freely to strengthen their localities and create change that will benefit all members of their communities. We are proud to contribute to many of these grassroots success stories by providing social finance, an often overlooked enabler.

“I would like to thank our partners and funders, without whom this impact would simply not be possible and to every person and organisation who has been a part of our story for the past twenty-five years. We look forward to continuing to support local communities where it’s needed most to enhance facilities, create opportunities and enrich lives.”

Minister of State at the Department of Finance Robert Troy TD said: “When we think about the sporting clubs, community centres and local facilities we enjoy and rely upon every week, many simply would not exist without the support of social finance. Behind many of these projects are dedicated volunteers and community groups with the ambition to make a difference in their local area. Social finance provides the financial backing to turn those ambitions into reality.

“One of the great strengths of social finance is its partnership model. Through funding provided by the Social Finance Foundation, Community Finance Ireland can work directly with community and voluntary organisations, providing access to finance that might otherwise be unavailable. Ultimately, the value of social finance is not simply measured in the loans provided, but in the lasting benefits those investments deliver for communities and the people who live in them.”

Deputy Erin McGreehan TD, who hosted the event in Leinster House, said: "From its beginnings in Northern Ireland to its presence across all 32 counties today, Community Finance Ireland demonstrates the practical value of working across this island.

“The ambition for the next 25 years should be clear: more communities able to act on their ideas, more organisations supported to grow sustainably, and more people given the opportunity to participate. Congratulations to everyone who has contributed to this work. Thank you for backing our communities, and for helping them build their future."

Attending the event in Leinster House, CEO of Social Finance Foundation Garrett O'Donohoe, said: "On behalf of Social Finance Foundation, I would like to warmly congratulate Community Finance Ireland on reaching this remarkable 25-year milestone. Since Social Finance Foundation was established by the Irish Government in 2007, we have worked closely with CFI as a wholesale lending partner in the Republic of Ireland.

“It has been a privilege to witness, first-hand, how social finance is put to work by communities on the ground to enhance lives, create opportunities and strengthen local resilience. This significant milestone is further proof that this model of lending is highly effective in directing resources to where they are needed most, enabling projects and organisations to access funding that might otherwise remain out of reach. We look forward to continuing our partnership and supporting the vital impact that social finance delivers in communities across Ireland."

For more information on Community Finance Ireland, visit: www.communityfinanceireland.com