1. Financing Community Projects Clann Credo – Community Loan Finance Jennifer Hennessy Financing your Community Organisation Riverside Park Hotel Enniscorthy - April 28 th 2016 Finance to Help Your Community Grow

2. Presentation Overview CLANN CREDO AND SOCIAL FINANCE CLANN CREDO’S CONTRIBUTION TO LEADER 2007-2013 SOCIAL FINANCE IN WEXFORD OPPORTUNITIES FOR COMMUNITY LEADER LOANS 2014-2020 HOW TO APPLY FOR SOCIAL FINANCE

3. What is Social Finance? Repayable Loan Finance Social Outcome AND Repayment Capacity Community & Voluntary Sector

4. Why Do We Do It? Social Dividend / Community Benefit Energy Communities Tipperary 300+ homes retrofitted Energy savings, local employment 32 ex-offenders being stabilised Craftsmanship, employment 600 Acquired brain injury users Advocacy: Rehabilitation: Support 4

5. Clann Credo Lending

6. SECTORS ACCESSING FINANCE Community Facilities Social Housing Sports & Recreational & Culture Activity Enterprise Addiction & Counselling Disability

7. Clann Credo Loan Finance Matching Term Loan Finance Bridging Finance to secured Grants Term Loan Finance for Capital Expenditure Term Loan Finance for Working Capital

8. Review of CCL’s Contribution to RDP 2007-2013 Clann Credo commissioned an independent review of it’s Contribution to the Rural Development Programme from 2007 - 2013. Minister Anne Phelan launched the report in Stonyford, Co. Kilkenny in November last Key Insights from the Review

9. KEY FINDINGS Approved loans to 319 LEADER projects. Disbursed €34m in loans (19% of the relevant LEADER community budget). A further €42m of LEADER grants were drawn-down enabled by loans disbursed. Total leveraged expenditure by approved projects was €64m. Clann Credo loans were critical for projects beings able to proceed: 80% Of projects 52 projects Indicated that Clann Credo loans were critical to securing LEADER grant funding. That had eligible expenditure of €13.4m (24% of their community budgets) could not have proceeded without Clann Credo loan finance. LEADER COMPANIES Clann Credo made a significant contribution to the LEADER programme 2007 – 2013:  Average LEADER grant was €132k Average Clann Credo loan was €106k  Average total expenditure of projects supported by Clann Credo and LEADER was €199k. COMMUNITY PROJECTS Significant economic and social contributions to their communities: New Jobs created. C.1,000 Jobs maintained. C.600 Temp jobs supported directly, indirectly C.1,400

10. Social and Economic Impact Leader 2007-2013

11. Wexford Examples Kilmuckridge Memorial Hall Society Bridging loan against Leader grants and a term loan to extend and modernise the 1953 building. Now houses a café and an improved venue for Pantomime performances and other Community groups.

12. Wexford Examples Duncannon Village Renewal– secured a bridging loan against Leader grants for development of a Playground in Duncannon. Hook Rural Tourism who aim to promote tourism on the Hook Peninsula – Availed of bridging loans to facilitate drawdown of Leader grants to restore an old walled garden at Tintern Abbey. Adamstown Community Centre availed of a bridging loan against a Leader Grant Grant to develop a village walking track for the people of the town Kilmuckridge Family Resource Centre - Term loan Feachtas Ealaoin Teo - Term loan Askamore Muintir na Tire – Matching funding and bridging Adamstown Athletics Club – Sports Capital Grant Bridging Gorey Educational – Leader Grant Bridging Loan

13. Wexford Examples Coolcotts Gymnastics Development of a Gymnastics Venue next to Ferndale Community Centre in Wexford 550 members of the Club have fulfilled their dreams of having a home for the Club. Clann Credo provided Social Loan Finance totalling €210,000 to assist with the build.

14. LEADER Programme 2014 – 2020 Opportunities More streamlined co-operation between CCL and the LEADER Grant Administrators - minimise duplication for you, the Project Promoters Developing a range of additional benefits for project promotors – Special Community Leader Finance Loans

15. Application Process

16. Cost €100,000 over 10 years 4.95% variable, €1,058 per month / €12,698 per year. €30,000 over 5 years, 6% fixed, €580 per month / €6,960 per year. €50,000 Bridging Loan over 6 months, 6% fixed, Interest €250 per month, Capital repaid by the grant drawdown. 1% Arrangement fee applies.

17. Community Finance– Why Clann Credo? Mission & Purpose – knowledge of Sector Track Record of over 15 Years Understanding of different Grant Programmes One Main Point of Contact Flexibility in devising product for client Networks of Customers No personal guarantees

18. Take Away Community based organisations face many challenges, but …. Accessing loan finance need not be one of them In fact any community based organisation that is working to enhance their community and has the ability to repay a loan can borrow from Clann Credo.

19. Thank you

20. Our People 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. 20 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