Social Finance Foundation to double community lending

📆 26/06/2024 6:11:00
📰 RTEbusiness

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Social Finance Foundation lent €25.5 million to over 250 community groups across the country last year, and plans to nearly double community lending from €59m to €100m by 2029.

The non-profit body provides loan finance for community projects, with an average loan value of €101,000.

It says loans are available, with minimal processing time, to community and voluntary groups or social enterprises that create a social benefit for their community. SPADE offers shared office and kitchen space, as well as networking and mentoring to a community of 50 early-stage businesses with a strong focus on the food sector.

"With the assistance of social finance, at SPADE they will have access to the highest quality facilities for very nominal charges." "For us means being able to amplify the collective efforts of our members in pursuit of Ireland's circular economy ambitions."

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