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Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs, Heather Humphreys, TD, will launch a new national €25m Community LEADER Loan Fund in Virginia, Co. Cavan on the morning Feb. 6th next.
The new Loan Fund, developed by Clann Credo Community Finance, has been developed to provide both matching and bridging loan facilities and is specifically geared to the needs of rural groups and initiatives.
While full details for the scheme will be available on Feb 6th, it is expected to uniquely require no personal guarantees from community organisations applying for loan facilities.
Clann Credo CEO, Paul O’Sullivan, said that the new loan product has been specifically developed and honed based on their experience during the outgoing LEADER programme, when Clann Credo supported over 300 rural communities that were often unable to obtain mainstream banking loans.
He said that “with 20 years experience in providing loan finance to community & voluntary organisations, Clann Credo recognises that the commitment and contribution of community leaders and volunteers acts as its own collateral. It is for that reason that the new LEADER loan scheme will require no personal guarantees
The event is open to all community and voluntary groups interested in developing LEADER linked projects. Following the formal launch a free afternoon workshop will be held for participants to explain all issues related to the new LEADER Loan Fund.
Clann Credo will be publicising the new loans widely over the coming months and will be working with local LEADER and community based organisations to ensure that the maximum benefits can be obtained from the overall LEADER programme.
More information available on: http://www.clanncredo.ie/mi-loans-leader-loan-fund
Further information is available from info@clanncredo.ie or by telephone from Clann Credo Head Office on 01. 4002100
For further information on this media release please contact:
John Gallagher Te. 087 9369888
Cathy Moore Tel. 086 6040600