Home > Uncategorized > New Social Financing for Northern Ireland

New Social Financing for Northern Ireland

Ulster Community Investment Trust (UCIT), a community finance development organisation, is partnering with Big Issue Invest (BII), a UK-based provider of loans to social enterprises, to offer new finance to social enterprises in Northern Ireland through the Social Enterprise Investment Fund. UCIT is investing £250,000 into BII’s Social Enterprise Investment Fund in order to bring the initiative to Northern Ireland.

The partnership offers social enterprises in Northern Ireland access to a £10million investment fund. This investment fund, along with the advice and support of the Social Economy Network in Northern Ireland, will enable the sector to strengthen its position as an essential and invaluable part of sustainable and inclusive economic development.

Speaking at the launch event, Seamus O’Prey, Chair of UCIT, commented: “UCIT is committed to assisting social enterprises to become more efficient and have adequate resources in place. I am delighted to be working with BII in bringing this fund to Northern Ireland as it will enable local groups to get access to these investment opportunities.”

Nigel Kershaw, CEO Big Issue Invest, commented: “In order for the social economy sector to make its mark and play an effective role in the economy it needs access to support and investment. Working with UCIT we identified the clear need for a method to provide medium and long-term funding for social enterprises. The Social Enterprise Investment Fund presents a new and innovative way of introducing finance to Northern Ireland’s social enterprises.”

  1. September 28, 2010 at 16:49

    Really positive to see investment in social enterprise in NI at a time when there’s understandably so much financial doom and gloom.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: