Espresso Martinis and Impact
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Fundraising

Community Finance to the Forefront


Wednesday, 7th May 2014 at 10:30 am
Lina Caneva
A new online platform supported by the Victorian Government is set to simplify the process of accessing community finance for social enterprises and Not for Profits.

Wednesday, 7th May 2014
at 10:30 am
Lina Caneva


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Community Finance to the Forefront
Wednesday, 7th May 2014 at 10:30 am

A new online platform supported by the Victorian Government is set to simplify the process of accessing community finance for social enterprises and Not for Profits.

Foresters Community Finance, with the support of a range of intermediaries, has developed the Community Finance Portal, which aims to streamline the research process and help organisations to understand the type of community finance that is suitable for their needs.  

The portal, recently launched officially by MP Craig Ondarchie, Member for Northern Metropolitan Region Melbourne, takes the user through a few short questions so that they can be directed to a tailored range of lending options from a variety of providers, as well as links to capacity building organisations.

Belinda Drew, CEO of Foresters Community Finance, said the Community Finance Portal was the first platform of it’s kind in Australia.

“The concept of Community Finance is not something that is widely known and understood in mainstream market,” she said.

“This important resource meets the needs of underserved markets such as non-profit organisations, social enterprises and individuals experiencing exclusion from mainstream financial markets by providing them with accessible, up-to-date and accurate information.”

Community Finance providers structure loans which are driven by the needs of the individuals, Not for Profits and social enterprises they work with.

Many individuals, Not for Profits and social enterprises cannot access loan capital from a bank and Community Finance institutions seek to provide these groups with access to affordable and appropriate finance.

“[The Portal] was informed by a group of individuals representing the community sector. The result was a valuable tool that offers reliable information about what community finance is and what it can do for people and organisations,” Drew said.

“The development of the Portal was supported by the Victorian Government through the Community Support Fund and managed by Foresters with input from community finance providers in Australia.”

The Community Support Fund distributes part of the Victorian Government’s gaming revenue to projects that benefit communities.

Visit the portal here.

 


Lina Caneva  |  Editor  |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years. She was the editor of Pro Bono Australia News from when it was founded in 2000 until 2018.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au


Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Hey – look over here!

David Crosbie

Wednesday, 17th July 2019 at 5:47 pm

Volunteering: The ultimate act of kindness

Andrew Cairns

Tuesday, 16th July 2019 at 7:30 am

The (almost) united states of social enterprise

Contributor

Tuesday, 9th July 2019 at 8:18 am

One why at a time

Contributor

Tuesday, 2nd July 2019 at 8:33 am

POPULAR

Labor ‘alarmed’ by NDIA exodus

Luke Michael

Friday, 5th July 2019 at 5:08 pm

Who earns the most in the social sector… and why?

Maggie Coggan

Wednesday, 10th July 2019 at 5:32 pm

Yarra Trams Community Partnerships
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!