Oireachtas Joint and Select Committees

Wednesday, 4 October 2023

Joint Oireachtas Committee on Social Protection

Grants and Bridging Finance for Community Groups: Discussion

Photo of Paul DonnellyPaul Donnelly (Dublin West, Sinn Fein) | Oireachtas source

I have just one quick question. On the bridging loans, obviously somebody has to take responsibility for that loan. I have not come across these loans before so I would like to know whether the organisation, which may be a company limited by guarantee, CLG, takes the fiscal responsibility in case of a default. I believe Ms Buckley said there had been only three defaults. Is it the community organisation or an individual that takes on this role and these responsibilities? Who takes responsibility if there is a default? If something goes catastrophically wrong, who takes the hit?

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