Free money (for worthy Cork causes)

24th April 2014
By Bryan Smyth
bryan@TheCork.ie

Cork Foundation, a non-profit philanthropic fund exclusively focused
on the Cork region, have 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 9th May 2014.
Organisations can apply online via www.corkfoundation.com .

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.

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