We provide Term Loans for different types of projects, for example, enterprise and job creation initiatives including providing enterprise space. We also support projects providing social and recreational amenities or social care services, for example health and well being initiatives such as Sport, Environment Projects, Community Childcare, Family Resource Centres, Arts & Heritage, Tidy Town and projects which support Community Education.
Community/Social Enterprise lending amounts can be a minimum of €25k and a maximum amount of €200k over a maximum of 10 years. Exceptions on a case-by-case basis.
Where the entity is a Social Enterprise with a not-for-profit ethos but is deemed strategic in nature to the Western then maximum loan amount can be €1m and over a maximum term of 20 years. Exceptions on a case-by-case basis. The criteria for a social enterprise project to be deemed strategic is that the project’s impact will be region-wide or sub-region-wide (minimum three counties*) or sector-wide and will support 100+ jobs.
The loans we provide are designed for new activity, not for re-financing of existing loans, bridging loans or for feasibility studies.
All projects must demonstrate positive cashflow and an ability to repay a loan over an agreed term.
*Clare, Donegal, Galway, Leitrim, Mayo, Roscommon, Sligo