Over the last number of years, Ulster Community Investment Trust (UCIT) has played a pivotal role in supporting the community and social economy sector in Northern Ireland.
Established in response to decreasing grant support from Government and to address the difficulties experienced by community organisations and charities in accessing commercial loan facilities, UCIT provides community enterprises with access to affordable loans.
In total, UCIT has approved loans in excess of £45 million to over 300 community organisations and charities. A number of these loans have been made to organisations within the Coleraine and Moyle areas.
UCIT was delighted to provide a loan to Blythswood Care Ireland to assist with the purchase of the premises for their recently opened retail outlet in Coleraine. The profits of the shop which sells furniture, clothing, bric-a-brac, small electrical items, toys, DVDs, CDs and much more, are used to help those in poverty across the UK, Ireland, Europe and around the world.
Other organisations that UCIT has funded locally include Coleraine Rural and Urban Network (CRUN).
Loans are available for many purposes, for example, buildings and equipment, renewable energy initiatives, restructuring of existing debt (on the basis it can ultimately be repaid), cash shortfalls and bridging finance against delayed grant receipts.
Eligible organisations include sports clubs, charities, churches and faith- based organisations and tourism initiatives.
For further information regarding loans call UCIT on 02890315003 or visit the Trust’s website at www.ucitltd.com.