VIEW, Issue five, 2012
Website:
viewdigital.org
Page 23 ‘We take flexible approach to loans’
VIEW editor Brian Pelan asks Jonathan McAplin, Director of Operations at the Ulster Community Investment Trust (UCIT), about what role his organisation plays in the third sector
Q A
Q A
Q A
Can you give our readers a brief outline about UCIT
We evolved out of the third sector during the 1990s. A number of key activists, who came together through a series of confer- ences, identified a range of things that were needed for the sector to help it to grow and strengthen.
You give out loans and not grants, how do you compare to the main banks in Northern Ireland.
Our market place is social enterprises, chari- ties and community and voluntary organisa- tions.We’re a bit like credit unions for that sector. Our loan lending rates would go out at anywhere between five and eight percent
What is the advantage for a community group in going to UCIT for a loan
It’s all about being able to access the finance. Banks may not be willing to support you be- cause they see you as to high a credit risk. It would be fair to say that UCIT would take a more flexible approach. We wouldn’t levy an arrangement or early redemption fee.
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Jonathan McAlpin, UCIT Q
A
What is the nature of UCIT’s rela- tionship with the Charity Bank.
Both of us are interested in the charity and social economy sector, what we can do to grow it and the financing needs of it. We ap- proached the Building Change Trust who provided some funding for us to commision joint research into this area.
A Q A
Can you tell me a bit about the recent report, ‘Social Financing in Northern Ireland: Innovative Thinking and Action’, that you re- cently launched with the Charity Bank.
The report looks critically at how our sec- tor has evolved and grown with a certain amount of grant dependancy and has been used to a reasonably good supply of grants, coming from European peace money, the In- ternational Fund for Ireland and other sources of financing.
Finally, how do you make repay- ments if you are a community group that doesn’t make money.
That’s where I think our sector has a long way to go because I think you can make money. One of the problems we have is the definition of what our sector is. We have community-based organisations who do need grant funding to deliver certain serv- ices. But there are other parts of the sector than can operate more like businesses. such as the Bryson Group model.
IN THE NEWS Boost for co-operative movement
AS the first wind energy co-operative is set up in Northern Ireland, a major conference is taking place in Belfast this month to look at the potential of co- ops to regenerate local communities. The launch of a share offer for Drumlin Wind Energy Co-operative and
lion, to build and operate up to five 250kW wind turbines, at five locations across Northern Ireland in Larne, Ballyclare, Kells and Pomeroy. The ‘Co-operatives: a model for sustainable development’ conference in Belfast is expected to attract political, business, statutory agency, trade union representatives and community activists. • Details on Co-operative Conference:
http://bit.ly/JHC2n4 • Drumlin Wind Energy Cooperative site:
www.drumlin.coop
the conference on June 28 coincides with the United Nations International Year of Co-operatives. Drumlin Wind Energy is to issue a public share offer to raise up to £4 mil-
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Talks to focus on charity regulations
FREE ‘Good Governance’ seminars focusing on charity regulations under the Charity Act (NI) are being held this month in Derry, Downpatrick, Ballymena, Armagh and Belfast. Contact North West Community Network, East Down Rural Community Network, North Antrim Community Network and Volunteer Now for details.
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