Community and volunteer-led organisations in Monaghan who choose social finance solutions could see a social return of investment of over 3.42 times the initial investment. That's according to Community Finance Ireland (CFI), which says that between 2016 and 2022, CFI supported 10 organisations in Monaghan with a total loan value of just under €1.3m.
The company says that based on a social value analysis undertaken by Rose Regeneration and the Rural Community Network, it has established that for every €1 spent in delivering projects on the island, local communities have seen a return on that investment of 3.42 times.
Meanwhile, CFI supported 28 organisations in Cavan with a total loan value of just over €3m. Dónal Traynor, CEO of CFI added that social finance offers communities even greater social impact. "Not only do we offer more tailored supports and knowledgeable advice for volunteer-led organisations, but communities also know they're part of an all-island social impact network - in repaying their loan, a sports club in Ballymoney is supporting a social enterprise in Bantry," he continued.
"Any profit goes straight back to supporting other similar projects, it's a circular social economy that is making real change happen in communities across the island."
