Clann Credo Community Loan Finance Susan Gallagher Nagle Rice - - PowerPoint PPT Presentation

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clann credo community loan finance susan gallagher nagle
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Clann Credo Community Loan Finance Susan Gallagher Nagle Rice - - PowerPoint PPT Presentation

Oct 03, 2023 22 likes •226 views

Finance Fi ce to to He Help lp You our Comm Co mmunity nity Grow ow Clann Credo Community Loan Finance Susan Gallagher Nagle Rice Centre Milltown June 27 th 2016 Clann Credo Established and operating in Ireland since 1996

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Clann Credo – Community Loan Finance

Susan Gallagher Nagle Rice Centre Milltown June 27th 2016

Fi Finance ce to to He Help lp You

  • ur

Co Comm mmunity nity Grow

  • w
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Clann Credo

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  • Established and operating in

Ireland since 1996

  • Charity
  • Company Limited by Guarantee
  • Provider of Social Finance
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Clann Credo

Our People Staff & Volunteers

VOLUNTARY BOARD AND COMMITTEES

BOARD Colin McCrea (Chair); Jerry Butler; Gary Brennan; Magdalen Fogarty (Founder); Tom Finlay ; Emer Ní Bhrádaigh; Grace Redmond; Jim Rourke; Paul Sullivan; Don Thornhill. EVALUATION COMMITTEE Paul Sullivan; Magdalen Fogarty; Martin Coggins, Sheila Fox; Jerry Kivlehan; Tom Finlay; Gary Brennan. PROJECT SUPPORT COMMITTEE Jim Rourke; Colin McCrea; Emer Ní Bhrádaigh; Ann Clarke; Pat Leogue; Grace Redmond; Ger Marshall.

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REGIONALLY BASED STAFF North & East: Jennifer Hennessy T: 01 400 2100 / 087 9556721 West: Tracey Hannon T: 094 906 0679 / 087 6488390 Midlands: Roisin Mulligan T: 01 400 2100 / 086 3098098 South: Susan Gallagher T: 021 462 1182 / 087 7388391

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What is Social Finance?

  • Repayable Loan Finance
  • Socially Minded Investors
  • Social Outcome AND Repayment Capacity
  • Finance is Recycled
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Clann Credo Lending

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Clann Credo Support –

Leader 2007-2013

€34 M to 391 Community Projects

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Sectors Accessing Finance

  • Community Facilities

(Childcare, Youth, Elderly, Tidy Towns, community centres)

  • Social Housing
  • Sports & Recreational &

Culture Activity

  • Enterprise
  • Addiction & Counselling
  • Disability
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Clann Credo Loan Finance

Term Loan for Capital Expenditure Matching Finance to grant funding Financial Restructure Working Capital Bridging Finance to Secured Grants to Future Commitments

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Loan Finance to

  • Unincorporated Committees
  • Community Companies / Local Co

Operatives

  • Trusts
  • Sports Clubs
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Examples of Projects in Kerry

  • Developed Teach

Íosagain & 27 social housing units

  • Clann Credo

provided term loan finance to for fit out and land purchase

Rathmore Social Action Group

‘

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Examples of Projects in Kerry

  • Bonane Community CO OP (resurface of

courts)

  • Caherdaniel Parish Hall
  • Firies Food Innovation Centre(Enterprise

Centre)

  • Barraduff (Pitch & Clubhouse)
  • Kenmare Mens Shed ( Equipment & Training)
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Examples of Projects in Kerry

  • Kocknagoshel Gym ( Extension)
  • Kerry Cultural Literary Centre
  • Currans Tidy Towns
  • Ballybunion Community Centre
  • Moyvane Playground
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No Application Form

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Community Impact+ Loans- KEY POINTS

  • One point of Contact
  • NO Personal Guarantees
  • Flexible repayment options
  • NO penalty for Early Repayment
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Community Impact+ Loans- Affordable Rates

Loan / Term Loan Amount Typical Annual Interest Rate Typical Arrangement Fee Term Loan 1 to 5 years €5,000 to €30,000 6% Fixed None Term Loan: 5+ to 15 years €30,000 to €500,000 4.95% None Term Loan: 2 to 5 years €30,000 to €500,000 6% Fixed None Bridging Loan: up to 2 years €5,000 to €500,000 6% Fixed 1%

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Term Loan- Repayments

  • €100,000 Term Loan for 10 years
  • Capital + Interest repayments €1,058 monthly

= €12,699 per year.

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Cost of Bridging Loan

  • €50,000 Bridging Loan – based on full amount

drawn down for 1 year –

  • Interest €3,000 (€250 per month);

Arrangement Fee & Legal Fees = €650;

  • Total Cost = €3,650.

( Bridging loans are usually drawdown in tranches and it is unusual for the full bridging loan to be outstanding for the full period)

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Community Impact+ Loans- 20th Offers

  • €150 Voucher to spend on The

Wheel’s Training Programmes and Expert Services;

  • FREE Financial Health Check;

and

  • FREE places on invite only,

Specialist Workshops for your volunteers and staff.

Offers for

  • ur 20th

Birthday

  • n Loans

Drawn down > €30,000

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Why chose Clann Credo

  • In-depth Knowledge of the Community

Sector

  • Affordable Interest Rates
  • No personal Guarantees
  • Flexible Repayment Options
  • Regionally-based Staff
  • Understanding of different Grant

Programmes

  • Track Record of over 20 Years
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Thank You Any Questions, please ask susan@clanncredo.ie 087 7388391 https://www.facebook.com/ClannCredo www.clanncredo.ie