Cork Foundation launches second tranche of funding

Business | Wed 23 Apr | Author – Business & Finance
Cork Foundation

Cork Foundation, a non-profit philanthropic fund exclusively focused on the Cork region, today announced the availability of their second tranche of funding for enterprises in the city and county. They are calling for applications from businesses and community enterprises in Cork who need funding to expand, develop or sustain their organisations.

The deadline for applications for the second tranche is May 9th 2014. Organisations can apply online at Cork Foundation’s website.

The aim of the fund is to drive employment growth and help develop Cork as the best region in Ireland to start, locate and grow a business. The first tranche, announced in November, has already provided €50,000 in funding to Northside Community Enterprise and PMD Solutions, enabling the two Cork businesses to create four jobs.

Speaking at the announcement, Yvonne Barry, chairperson, Cork Foundation said: “We are once again looking for applications from Cork enterprises that need financing to bridge funding gaps to take advantage of opportunities in the market. We evaluate each application on a case by case basis, agreeing funding levels based on the growth potential of the organisation and the number of jobs it will create in Cork.”

Barry added: “Cork has so much to offer and has many strong indigenous businesses that are facing challenges in accessing credit. We complement existing support services by bridging finance gaps in current models. We are now urging local enterprises, be they established or start-up, to submit their applications to be considered for funding.”

Cork Foundation, established in early 2013 by leading business and political figures, is the first philanthropic fund of its kind in Ireland.  It secures contributions from donors both here and abroad, and provides a vital link between these contributors and Cork’s enterprise groups, connecting the funding stream so that indigenous businesses can create jobs and prosper.