The fund aims to build the capacity of social enterprises that are first-time borrowers.
This unique new financial instrument will provide a mix of a loan that must be paid back, along with a non-repayable loan and business support for up to 20 social enterprises in total. The Department of Rural and Community Development via the Dormant Accounts Fund has committed €890,000 for this Fund. In addition, Community Finance Ireland will provide approximately €500,000 in repayable loans.
At present, there is a lack of investment readiness among social enterprises and there is no tailored financial instrument that fits the needs of the growing social enterprise market. The Hybrid Social Finance Loan aims to tackle these gaps following extensive research on financial instruments for social enterprises in Ireland and consultation with the sector.
Dóchas Midwest Autism Support provides support to children and adults with Autism and their families in the Mid-West region. This project will address the unemployment issue that exists for the Autism Community by creating training and employment opportunities in a supportive environment. The support on offer will include life skill development, education, training, voluntary work and paid positions. There will be external employment opportunities provided for when participants feel ready to progress to the next stage of their working journey.