Banks
SFF benefits from donated and low-cost funding from the Irish banks
Social Lending Organisations
Clann Credo and Community Finance Ireland (CFI) – Social Lending Organisations (SLOs)
Department of Finance
Department of Finance
European Investment Fund
SFF benefits from guarantees funded by the European Union under InvestEU and the Programme for Employment and Social Innovation (EaSI).
Programme for Employment and Social Innovation (EaSI)
The EaSI Programme supports increased access to financing for social enterprises that meet certain eligibility criteria. The guarantee covers loans up to a maximum of €500,000. For information on the application process, please visit the websites of Clann Credo https://www.clanncredo.ie/ and Community Finance Ireland https://communityfinanceireland.com/. The European Commission has selected the EIF to implement the EaSI Guarantee.
For more information on the EaSI Programme, please visit the websites: European Commission, and EIF.
Clann Credo and Community Finance Ireland (CFI) – Social Lending Organisations (SLOs)
MISSION STATEMENT
Our mission is threefold: Firstly, generate a strong social impact by funding, through our lending partners, creditworthy projects with loan finance; Secondly, to realise the full potential of social finance in Ireland; Finally, working collaboratively, to undertake research and deliver initiatives which promote social good, with the Irish Government and the Irish Banking Industry as our sponsors.
Vision. SFF is acknowledged as a leader in establishing the concept of social finance in Ireland
Values. Integrity, Innovation, Delivery, Collaboration.
FOUNDATION STRUCTURE
LENDING INFORMATION
2023 Annual Report
You can download a PDF of the 2023 Annual report on the The Media / Publications page.
Lending in 2023 by Geography
Measurement of the social impact of the projects which the Foundation supports is very difficult. However, metrics have been generated and are shown in the tables below. Every effort is made to enhance this information and make it as relevant as possible.
The Foundation strives to achieve a balanced distribution of funds throughout the State and the Chart illustrates this is being broadly achieved.
Connaught €11.9m
Dublin €6.8m
Leinster €14.2m
Munster €21.9m
Ulster €4.6m
Community Sports, Health and Wellbeing €27.4m
Community & Voluntary groups €12.1m
Social Enterprises €5.2m
Community and FRCs €3.8m
Religious €3.6m
Social Care €2.8m
Arts, Heritage & Tourism €1.9m
Healthcare €1.6m
Education €1m
Lending in 2023 by Sector
The nature of the Foundation’s lending is shown below. The Foundation is very conscious of its obligation to ensure that monies are utilised in areas where they will have a high social impact. The breakdown illustrates that this is being achieved.
Community Sports, Health and Wellbeing
€27.4m
Community & Voluntary Groups
€12.1m
Social Enterprises
€5.2m
Community and Family Resource Centres
€3.8m
Religious
€3.6m
Social Care
€2.8m
Arts, Heritage & Tourism
€1.9m
Healthcare
€1.6m
Education
€1m
IMPACT OF 2023 SFF LENDING
Community Sports, Health and Wellbeing
2023 Drawdowns
€13.4m
2023 Number of Clients
127
2023 Number of Drawdowns
206
Community & Voluntary Groups
2023 Drawdowns
€5.8m
2023 Number of Clients
78
2023 Number of Drawdowns
117
Social Enterprises
2023 Drawdowns
€3.0m
2023 Number of Clients
18
2023 Number of Drawdowns
30
Community and Family Resource Centres
2023 Drawdowns
€1.1m
2023 Number of Clients
8
2023 Number of Drawdowns
15
Arts, Heritage & Tourism
2023 Drawdowns
€0.9m
2023 Number of Clients
11
2023 Number of Drawdowns
17
New Irish Communities
2023 Drawdowns
€0.7m
2023 Number of Clients
5
2023 Number of Drawdowns
6
Social Care
2023 Drawdowns
€0.5m
2023 Number of Clients
4
2023 Number of Drawdowns
11
Education
2023 Drawdowns
€0.1m
2023 Number of Clients
2
2023 Number of Drawdowns
3
Grand Total
2023 Drawdowns
€25.5m
2023 Number of Clients
253
2023 Number of Drawdowns
405
CHRONOLOGY & HIGHLIGHTS
February 2007
Minister for Finance publicly launches Social Finance Foundation
March 2007
Irish banks provide €25m to Foundation
April 2009
Foundation signs Loan Agreement with 12 Irish banks for additional funding of €72m
June 2011
Strategy Report on Financial Inclusion published
September 2012
Microfinance Ireland launched by Minister for Jobs, Enterprise & Innovation Mr. Richard Bruton TD.
February 2014
Loan drawdowns of €40m exceeded.
November 2015
Launch of pilot Personal Microcredit Scheme with 30 credit unions
April 2018
Completion of Research Report on the Social Enterprise sector in Ireland in collaboration with Department of Rural and Community Development
November 2018
Publication of Report “Interest Rate Restrictions on Credit for Low-income Borrowers”
December 2018
€100m lent to 1,000 organisations
May 2019
Foundation signs the EaSI Loan Guarantee Scheme with EIF
December 2019
Foundation signs Loan Agreement with Irish Banks for additional €44m of funding
July 2020
Social Enterprise Republic of Ireland (SERI) established with the support of the Foundation.
November 2021
Submission made to Banking Review by the Department of Finance on the role of social finance in Ireland.
July 2022
Council of Europe Development Bank & Social Finance Foundation partner to support community projects in Ireland with a €20 Million Loan.
September 2022
Social Finance Foundation reached new milestone. Loan Book exceeds €50m in outstanding balances for first time.
March 2023
SFF reaches €200 million lent to 2000 organisations.
July 2023
SFF won the 2023 European Association of Long-Term Investors award for Social Impact.
August 2023
CEO Brendan Whelan retires after 16 years at the foundation. SFF welcomes new CEO Garrett O’Donohoe.
