The Voluntary, Community and Social Enterprise (VCSE) sector in Northern Ireland plays a key role in helping the NI Executive and the Department for Communities achieve the objectives set out in the draft Programme for Government (PfG) Outcomes Framework. DfC has decided to use Financial Transactions Capital (FTC) to establish a Social Capital Loan Scheme to support VCSE investment, via a Special Purpose Vehicle (SPV) managed by Community Finance Ireland (CFI), to minimise financial risk.
Through the scheme, DfC will make £13,000k FTC available to the VCSE sector in three tranches, via Community Finance Ireland (CFI), over the period 2023/24 – 2025/26.
CFI will apply its existing business model to select projects for investment and manage repayments to DfC.
This intervention is an enabler which will bring a source of capital to the VCSE sector, complementing public and non-statutory funders.
CFI will apply its existing business model to select projects for investment and manage repayments to DfC.
VCSE Organisations will be able to apply for Social Loan Capital to develop assets aligned to PfG delivery, projects must be sustainable to meet a social need.
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