Community and voluntary groups and social enterprises are invited to attend a special Social Finance Open Day in Castelbar, Co. Mayo on Thursday, 2 February (9:30am-1pm) at the Social Services Centre on Castle Street.
The clinic will be hosted by Clann Credo – the Social Investment Fund, a charity that specialises in providing loan finance to community and voluntary groups, community businesses and social enterprises.
There has been a growing local interest in social finance since An Taoiseach, Enda Kenny, TD launched a
report on the social and economic benefits of social finance in Newport on 10 December. The report by DKM Economic Consultants states that over 260 community-based jobs have been created and a further 630 maintained as a result of the support provided by Clann Credo - the Social Investment Fund.
Over the past 15 years, Clann Credo has provided over €33 million in loan finance to projects throughout the country. These loans have been used to develop and maintain community facilities and infrastructure, community care and education services and employment and community enterprises.
One of these projects, St Dominick’s Housing Association in Newport, provides sheltered housing and support services for the elderly. “Without access to social finance we would have struggled to keep some of our services going,” said Dr Brian Lennon, Chairperson of St Dominick’s Housing Association.
Commenting on the announcement of the Social Finance Open Day, Paul O’Sullivan, CEO of Clann Credo said: “Social finance helps community groups and enterprises that are often overlooked by conventional finance providers like banks, and ensures that the investment is used to benefit the community by creating jobs and developing local services. Access to finance is essential at this time of rising unemployment and cuts in government funding. Clann Credo is expanding its lending to help community groups and enterprises to maintain and grow their services,” he said.
Please note: if you wish to attend the Social Finance Open Day please contact Tracey Hannon on Tel: (094) 90 60679 or email traceyhannon@clanncredo.ie before 27 January.