Financefair announces €150m Fund for Social and Affordable Housing Development

Leading Irish business finance provider Financefair has established a €150m fund dedicated to accelerating the development of social and affordable housing across Ireland.

This fund marks Financefair’s growing commitment to meet the needs of an underserved market of small and midsize scaling companies. Having advanced over €1.7bn of working capital funding to date, Financefair is making a significant and positive impact on the growth trajectory of many Irish and UK businesses across all sectors.

This Financefair Social and Affordable Housing Fund will be managed and administered by Financefair with funding provided via London-based investment firm LCM Partners.

This innovative new fund aims to finance the construction of up to 750 new homes, in communities throughout Ireland.

These homes, for turnkey sale to Approved Housing Bodies (AHBs), Local Authorities, and the Land Development Agency (LDA), will support Ireland’s social and affordable housing development needs.

Financefair will provide loans of up to 90% of the total development cost, or up to 75% of net development value, for experienced residential developers.

“Supporting the development of affordable homes is not just an investment in housing it’s an investment in the future of Irish communities,”

said Peter Brady, co-founder and chief revenue officer of Financefair.

“Our collaboration with LCM Partners opens doors not only to address the housing shortage but also to fuel local economic and community development. The fund provides essential support to experienced developers and will help drive efficient project completion by enabling early funding drawdown based on an agreement for sale to AHBs, Local Authorities, or the LDA.”

Declan Reid, managing director at LCM Partners said,

“Our partnership with Financefair reflects our commitment to sustainable development aligned to the need for social and affordable housing. We look forward to the progress of this fund which will contribute to the development of much needed quality housing for people, families and communities across Ireland.”

Experienced residential developers interested in applying to the fund can get more information at www.financefair.com

Financefair

Financefair (formerly InvoiceFair) was formed in 2015 by co-founders Helen Cahill and Peter Brady to provide working capital solutions to growing businesses in Ireland and the UK. The company has made a significant impact on the Irish and UK business funding landscape, having advanced over €1.7 billion to an underserved market of small and midsize SMEs who are scaling but cannot access funding from banks or traditional providers, due to their size or sector.

Key services include Line of Credit – a new pre-approved funding facility up to €250,000 that allows companies leverage on their outstanding trade receivables, enabling them to draw down funds on demand. This facility is an alternative to business overdrafts and short-term loans, as it gives business owners access to instant working capital.

Financefair also offer a Revenue Based Finance product which allows businesses to leverage their regular contracted and/or non-contracted revenue. By aligning funding to its forecasted and predictable revenue, businesses can get access to cashflow which often postpones the need for long term debt, or an equity raise to grow their business.

LCM Partners

LCM Partners is one of Europe’s leading alternatives investment management firms. LCM’s Strategic Origination and Lending Opportunities (SOLO) fund is a specialist private credit strategy focused on asset finance and real-estate development lending through lasting partnerships with specialist originators across Europe.