The Need for Social Finance
More and more community enterprises are realising that grants cannot fully meet all of their funding needs. It is now becoming necessary for them to generate their own capital in order to fulfil both development and cash flow requirements. Consequently loan funding, and in particular Social Finance, is becoming a primary tool in satisfying these needs.
Ulster Community Investment Trust Ltd (UCIT) was established in 1995 in response to decreasing grant support from government and the difficulties experienced by community organisations in accessing commercial loan facilities. The organisation now stands as the key provider of social finance, free advice, business support and mentoring to the social economy sector in Northern Ireland and the Republic of Ireland.
As a registered charity, all profits generated by UCIT are recycled for reinvestment into the community and social enterprise sector.