Founded in 1983, 174 Trust is a community care organisation committed to helping build a “strong, just and peaceful society” in North Belfast and beyond. The Trust’s award winning facility, the Duncairn Centre for Culture and Arts, provides a safe, shared and inclusive community space from which they deliver a variety of valuable services including childcare, disability support programmes and a range of community and arts events. 174 Trust has obtained a loan from the Building Better Futures Fund to assist with working capital costs.

Community and voluntary organisations, charities and social enterprises are being encouraged to access the loans available through the scheme which has been created and funded through a partnership between three leading local charities - Belfast Charitable Society, Building Change Trust and Ulster Community Investment Trust (UCIT).

Belfast Charitable Society was established in 1752 to tackle disadvantage and poverty and in doing so it built the Poor House and Belfast’s first Infirmary, which remains as Clifton House. Today, the Society continues to work to tackle disadvantage and promote philanthropy while sharing its vast heritage with others. Building Change Trust was established in 2008 by the Big Lottery Fund with an endowment of £10million as an investment for community capacity building and promotion of the voluntary and community sector in Northern Ireland.

The £1 Million fund which is being managed by UCIT provides small unsecured loans of £1,000 - £25,000 which cannot currently be raised from traditional sources. The loans can be used for a wide range of purposes, including buildings and repairs, equipment purchase, making facilities more energy efficient or funding shortfalls in larger grant assisted projects.

Alan Moneypenny, who has had an extensive career in the private, public and community sectors, will serve as Chairman for three years. Damian McAteer has been appointed as Vice Chair.

Alan’s previous roles have included positions on the Boards of the Odyssey Trust, Sport NI (Vice Chair), Irish Football Association and Coleraine’s Riverside Theatre.  Current appointments include Wellington College, Belfast Charitable Society and Groundworks NI. 

Mr Moneypenny said:

“I’m delighted to become Chairman of the UCIT group of companies at a time when demand for and interest in social finance is at an all-time high.  Just recently UCIT announced a record quarterly performance with over £2m in new facilities approved or utilised at the start of 2017.

“We’ve also undertaken a partnership arrangement with Belfast Charitable Society and Building Change Trust in order to be able to provide smaller, unsecured loans.  The NI Small Business Loan Fund, which UCIT manages on behalf of Invest Northern Ireland also continues to grow strongly.

“Northern Ireland’s small business and third sector are an important source of employment, wealth generation and community services.  Working with UCIT’s Board and Director team we will continue to seek innovative ways to support and grow these sectors.”

Other appointments to the Board include Erskine Holmes, (Chair of Lagan Navigation Trust) as Chair of UCIT’s Audit & Risk Committee and Seamus O’Prey (Chief Executive, ORTUS Group) as Chair of the Strategy Committee.  

Harry McDaid, UCIT’s CEO, added:

“At a time when funding options from Government and traditional sources are becoming constrained it’s vital that social finance providers such as UCIT are there to provide professional support and advice. Our Board is integral to UCIT’s work, providing commitment, strategic oversight and invaluable links with the community, voluntary and social enterprise sectors.  I’m looking forward to working with my colleagues on the Board as UCIT continues to expand its operations.”