Profile of Social enterprise organisation Clann Credo

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Ronnie O’Brien speaks to PAUL O SULLIVAN CEO of Clann Credo, a social investment fund. Paul explains what the company does, as a social initiative. They talk about capital being put to work to help people as well as  to satisfy its own needs. They are a social enterprise that deals in finance. They ask if a project is going to socially benefit the community and also if the loan can be repaid. Their model is to be able to recycle the capital as it comes back to them.

They work with groups to ensure the loans are repaid. They speak about how community groups were badly hit by the recession and cuts and discuss if there has been a rise in the number of community groups contacting them. They discuss one particular group who they were involved with called “Abbeyshrule” and the outcome of the groups use of their loan and how they repaid it.

They discuss how in the early days a lot of their funding came from religious orders and discuss where they hope to be able to access funding for the future.

They discuss their involvement in the creation of the MSC in Social Innovation accredited by DCU.

www.clanncredo.ie

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