Cavan County Enterprise Fund was approved by the Social Finance Foundation as one of it’s Social Lending Organisations (SLOs) in May 2008 and is responsible for screening and accessing loan applications in County Cavan for social finance support and managing the actual lending to projects.

Social Finance involves the provision of repayable loan finance at affordable rates to community based projects and local development initiatives, including individual and community micro enterprise which yield a social and financial return. Many of these projects can experience difficulties in accessing either affordable finance or finance at all from main stream financial institutions. This can result in economically and socially viable projects not being developed.

The main focus for social finance lending is on community based projects and social infrastructure and local development. There is also potential for social finance lending to support the microfinance needs of social and community enterprises especially where new employment can be evidenced, but only where they are unable to access the mainstream financial system and the projects clearly have a potential to yield a significant social dividend.

Cavan County Enterprise Fund therefore welcomes applications from projects that can make a difference to their communities and the region. Applicants must not only show a  social return in terms of creating a positive impact in the local community but must also present their financial objectives and demonstrate an ability to repay the loan.

Maximum Loan Amount           €100,000

Maximum Term                        5 Years

Interest Rate                             ECB rate plus 3%, currently 4%

Administration Fee                   range 0.75% - 1.5% (applicable if legal security costs are involved)

All loans will be assessed on a case by case basis and may be subject to special terms and conditions.