Community Finance Ireland is on side for Mayo sports organisations

Community Finance Ireland, the fastest-growing social finance provider in Ireland and the UK, has announced a range of supports available to sports clubs in Mayo who are applying for grants under the government’s Sports Capital and Equipment Programme.

The organisation provides support and investment to communities through cost-effective, unsecured loans specifically tailored for the community sector, including sports clubs, which often rely on multiple strands of financial support.

Between 2017 and 2020, Community Finance Ireland financed 127 loans to the value of €8.4 million for 77 different sports organisations, including Ballintubber and Tourmakedy GAA clubs.

The application deadline for the 2021 scheme is March 1, with the roll out of funds expected some time later in the year.

The CEO of Community Finance Ireland, Dónal Traynor, says they can provide immediate supports for organisations who cannot afford to wait.

“After a difficult year, many sports clubs and organisations have seen their cashflow reserves and fundraising abilities severely stretched or depleted, and the Sports Capital Grant will be a welcome kick start to the next infrastructural project and the communities they serve.

“However, we know that this fund is likely to be hugely oversubscribed – applications for the €40 million fund in 2018 totalled over €162 million – and it can take a considerable time for applications to be processed, approved and funds disbursed.

“For grassroots organisations and sporting bodies who have had so much put on hold for almost a year, financial supports for the next phase of development are likely to come as part of a funding package, rather than from a single source.

“The flexible and tailored approach that we take at Community Finance Ireland means that we can provide financial solutions to bridge the gap between what organisations apply for or are awarded in grant funds and the total amount required to get their projects across the line. If they find that only a fraction of their grant application is approved, they know they can turn to us to find the right solution for the remainder, whether they need to refurbish their sports hall or make their floodlights more energy efficient.”

Community Finance Ireland has worked with a wide variety of community sports organisations across the island of Ireland, such as boxing, athletics clubs, angling groups and adventure sports centres, many of which are typically run by volunteers.

Michael Tobin, coach at Craughwell Athletic Club in Co. Galway, worked with Community Finance Ireland in 2015 to secure the funds needed to complete a sprint track and floodlight facility. Speaking about this support, Mr. Tobin said: “We were successfully awarded Sports Capital funding to build a sprint track and floodlight facility in 2015. Since we invested in our facilities, we have seen an increase in membership and overall performance, with one of the club's younger athletes, Shauna Bocquet, winning three world titles in the 100m, 400m and 1,500m at the World Para Athletics Junior Championships in Switzerland in 2019.

“Like many other clubs across the country, we’re looking to the vaccine rollout and the reopening of wider society and we’re looking forward. For those clubs which want to be ready to hit the ground running with refurbishments or new equipment, a conversation with Community Finance Ireland can get you off the starting line.”

Mr. Traynor, who has played GAA and soccer since childhood, said clubs like Craughwell Athletic Club, Ballintubber GAA Club and Tourmakedy GAA Club will play a crucial role in bringing communities back together when Covid-19 restrictions allow.

He explained: “The benefits of sport and exercise to physical and mental wellbeing have been highlighted throughout this difficult time. For many, sports clubs and exercise groups are at the heart of our communities and the highlight of our weeks because of the community spirit and sense of togetherness that they provide.

“I’m sure we’re all looking forward to that and at Community Finance Ireland, we’re ready to help make it happen.”

For more information on the organisation, visit www.communityfinanceireland.com.