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NIFHA | News | UCIT £300k loan boost for…

UCIT £300k loan boost for Derry housing project

Published on: 7 August, 2014

Ulster Community Investment Trust (UCIT) committed a £300k loan to Foyle Women’s Aid towards the refurbishment of Ashleywood House, enabling the development of 15 self-contained housing units by Apex Housing Association. Foyle Women’s Aid rent the housing units from Apex in order to provide accommodation for victims of domestic abuse.

Foyle Womens Aid1 (2)

UCIT provides charities, community organisations and social enterprises with access to affordable loans. Since 2001, the organisation has lent over £46 million to over 300 third sector organisations including Housing Associations, Almshouse charities and other community-based organisations providing specialist housing in areas of need. As a registered charity, all profits generated by UCIT are recycled for reinvestment into the social sector.

Constituted in 1976 and incorporated in 1981, Foyle Women’s Aid has been the primary provider of accommodation and support to women and children who have suffered the effects of domestic abuse in the Derry region. Marie Brown, Director, Foyle Women’s Aid said: “We are delighted to be working with UCIT. This loan will allow us to significantly improve and update our premises which was a real cause for concern. The improvements to Ashleywood House and the new housing units will certainly make a difference to those women and children we support”

Phelim Sharvin, Associate Director, UCIT said: “Foyle Women’s Aid is a superb organisation and UCIT are pleased to be able to support the development of accommodation and the successful delivery of essential support services.

“We are supportive of the social economy sector and stand ready to support social enterprises that are growing whilst continuing to deliver a positive social impact in the local community”

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