Clifden’s Town Hall was one of six projects in the west to benefit from low-cost loans from the country’ s biggest social enterprise lender.

Community Finance Ireland funds were used by ARC Clifden Ltd to install a new state-of-the-art sound system, to increase the number of community activities that run from dance classes for young and old, indoor bowls, meditation, bingo up to the longest-running community arts festival in Ireland, Clifden Community Arts Festival.

And that was one of six organisations across Connacht to receive loan funding to a total of €400,000 between January and December 2023.

Clifden Town Hall General Manager Kevin Gavin was delighted with the support from Community Finance Ireland.

“Our experience with CFI has felt like a very personal one. It has always felt like our client manager is just down the road and is happy to answer any questions we might have,” he said.

The was reacting after CFI revealed details of the help it has offered to sports clubs, community projects, faith-based groups, and other voluntary organisations – to more than triple their impact in the last year.

That’s according to its Social Value Report 2023, which states that for every euro it loaned, a value of €3.69 in social return was achieved.

Since 2001, CFI has committed more than €110 million to hundreds of voluntary organisations throughout Ireland, funding initiatives that make a difference in local communities.

The multiplier effect of the funding has enhanced groups’ delivery on the UN Sustainable Development Goals (SDGs) in their local area, in particular, “Innovation & Infrastructure”, and “Health and Wellbeing”.

Community Finance Ireland is part of the Ulster Community Investment Trust Group, established in Belfast in 1995 and now supports a diverse portfolio of clients across the island of Ireland.

CFI Group Chief Executive Dónal Traynor said calculating the social return of their investments helped the charity understand the wider impact its loans were having.

“We’re delighted to see how this report reflects the positive impact our loans have on the wider community and how they support our clients to achieve the SDGs,” he said.

“For more than two decades, CFI has been helping sports clubs, community projects, faith-based groups, and social enterprises to make a difference and we strive to create a lasting social impact in every community on the island.”

Pictured: Clifden Town Hall General Manager Kevin Gavin, and Mary Nohilly, Community Finance Ireland Client Relationship Manager, at Clifden Town Hall which has installed a new, state-of-the-art sound system with the support of CFI. Photo:Andrew Downes, xposure