A CROSS-BORDER social finance fund has invested £14.2 million (€16.3m) in community projects and small businesses across Ulster - more than half the total spend in Ireland.
Between 2016 and 2019 Community Finance Ireland has made loans to groups which can demonstrate they "drive social impact", including sports clubs, social housing organisations, community projects, faith-based groups, and social enterprises.
Its first all-island impact report gives a province by province breakdown of its work in the past three years with €8.6m loaned to clients in Leinster, €3.5m to clients in Munster, €1.8m to clients in Connacht, and €16.3m to clients in Ulster.
Among the recipients in Ulster are An Tobar Community Wellness Centre and Social Farm in Silverbridge, Co. Armagh, where sisters Katherine Agnew and Margaret Finnegan provided social and therapeutic horticulture to local schools, nursing homes and health trusts.
Loans helped them improve disabled access and pathways, upgrade of disabled toilets and plant 13,000 trees.
Access Employment Ltd, a social enterprise providing adults with learning disabilities/difficulties, Asperger's, autism or other disadvantage with training and employment opportunities, got funding for their ethical bottled water business, Clearer Water.
Each bottle has a unique `trace code' allowing customers to find out more about the person who bottled their water who they have helped support into employment - eight young adults at the plant have some form of disability or mental health problem.
The Old Courthouse in Kesh, Co Fermanagh was given a loan to help with rebuilding and refurbishment works to create a community centre with a focus on social inclusion, providing a range of health and well- being services, a coffee shop, befriending service and social economy hub.
Dónal Traynor, associate director of Community Finance Ireland, said its loans range from €30,000 to €500,000 and "are specifically tailored for the community sector", waiving arrangement fees, quick turnaround times and no personal guarantee requirements.
"There has been a default rate of just 0.75 per cent on our loans since 2008, which is low by any standard and particularly when you consider that many of our loans are made available on an unsecured basis. This is in no small part due to the strong relationship which we have developed with communities over time."
The Northern Ireland Small Business Loan Fund, administered by Ulster Community Finance on behalf of Invest Northern Ireland provides access to finance for small businesses, sole traders and partnerships who find it difficult to access traditional loans.
It has the potential to lend more than £9m.