More and more community enterprises are realising that grants cannot fully meet all of their funding needs. It is now becoming necessary for them to generate their own capital in order to fulfil both development and cash flow requirements. Consequently loan funding, and in particular Social Finance, is becoming a primary tool in satisfying these needs. Ulster Community Investment Trust Ltd (UCIT) was established in 1995 in response to decreasing grant support from government and the difficulties experienced by community organisations in accessing commercial loan facilities. Start-up funding was received from LEDU (Invest NI) and the International Fund for Ireland (IFI). The organisation also took ownership of a £6.6m loan book from IFI, the Department for Social Development and the Department of Agriculture and Rural Development (DARD).
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