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 a guarantee funded by the European Union under 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
2017 Annual Report
You can download a PDF of the 2017 Annual report on the The Media / Publications page.
Lending in 2017 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
€2,714K / 21%
Dublin
€1,938K / 15%
Leinster
€1,292K / 10%
Munster
€5,299K / 41%
Ulster
€1,680K / 13%
1
Community
€4,006K / 31%
2
Heritage
€517K / 4%
3
Children
€388K / 3%
4
Other
€2,326K / 18%
5
Sports
€4,523K / 35%
6
Social Care
€1,163K / 9%
Lending in 2017 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.
Social Impact from Loan Funding 2017
580
Jobs supported – mostly temporary
72,500
No. of people using sports facility
51,700
No. of people using community facility
8,400
No. of children using facility
87,900
No. of visitors
3,600
No. of social care users
CHRONOLOGY & HIGHLIGHTS
February 2007
Minister for Finance publicly launches Social Finance Foundation
March 2007
Irish banks provide €25m to Foundation
August 2007
Loan drawings commence with First Step Microfinance
October 2007
Loan drawings commence with Clann Credo
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
May 2015
Report published on need for a Personal Microcredit Scheme in Ireland
November 2015
Launch of pilot Personal Microcredit Scheme with 30 credit unions
February 2017
10th Year Anniversary
August 2017
Social Enterprise Project with Department of Rural and Community Development
CUSTOMER STORIES
NEWSLETTER SIGNUP
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500
Jobs Created
13,700
Using Sports Facility