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ABOUT SFF

Social Finance Foundation was established in 2007 by the Government to address the needs of community organisations and social enterprises for loan funding which was difficult to obtain from mainstream financial institutions. Acting as a “wholesaler”, it provides funding to its lending partners Clann Credo and Community Finance Ireland.

The Key Players in Social Finance in Ireland

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

logos for Clann Credo, Community Finance Ireland, Microfinance Ireland, and the it makes sense loan

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.

CUSTOMER STORIES

Moville & District Family Resource Centre

July 17, 2024

Corcaghan Childcare Service

July 17, 2024

Glensamole Community Association (GCA) Co. Wicklow

July 17, 2024

St Patrick’s Rowing Club – Ringsend, Co. Dublin

July 17, 2024

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