Council asked to help promote social finance powerhouse

Community Finance Ireland (CFI) Group CEO Dónal Traynor told Cavan councillors at their October meeting how a €6M rescue operation has grown into a €110M funding lifeline for community organisations across Ireland.

The Killinkere native explained how CFI has spent more than 25 years bridging the funding gap for volunteer-led community groups, charities, sports clubs and social enterprises.

With more than €40 million currently invested “on the ground”, CFI has a strong presence in Cavan, supporting projects including Mullahoran Community Hall and Ballyjamesduff Tennis Club.

“We have a serious footprint already in Cavan, there’s not too many communities we don’t have a footprint in,” Mr Traynor said, urging councillors to promote its funding opportunities locally.

CFI emerged in the aftermath of the Northern Ireland peace process, when community organisations faced growing difficulties accessing traditional grant aid. Mainstream banks often struggled to accommodate these groups, with some volunteers asked to provide personal guarantees.

In 1999, CFI took over a non-performing loan portfolio worth more than €6M. By 2001, around 70% had been restructured and made viable, helping establish confidence in the organisation.

The European Union subsequently provided a €4M grant for social enterprise lending, with profits retained for reinvestment. Mr Traynor said the resulting €10.7M funding pool has since been recycled more than six times.

Today, CFI operates across the island, with headquarters in Belfast and a presence in the Republic, including Ardee. It has committed more than €110M to over 700 organisations.

Loans typically range from €10,000 to €600,000, averaging around €170,000 and generally repaid over seven to eight years. Funding can support property purchases, renovations, equipment and cash flow.

Sports clubs account for a significant proportion of its lending. To qualify, organisations must be volunteer-led, have assets vested in community ownership, demonstrate tangible social impact, and show an ability to repay.

Mr Traynor highlighted CFI’s default rate of just 0.03%.

Following the meeting, Mr Traynor was due to travel to Roslea, Co Fermanagh, to present €1,000 worth of sporting gear and equipment - part of another CFI initiative.