As we celebrate 20 years of Social Investment Cymru, Alun Jones tells the story of how it all began and why it still gets us out of bed.
You might describe Social Investment Cymru (SIC) as something of a happy accident as, but for the foresight of Phil Fiander, formerly WCVA’s Deputy Chief Executive, it may never have happened.
It was born out of that classic scenario of an underspend of EU money, and it was suggested that WCVA might like to run a grant scheme for what was the then still developing social enterprise sector. To our eternal gratitude, Phil declined that offer but suggested that we ran a loan scheme instead.
BECOMING A LENDER
After that, the real work began – WCVA had never lent money before. With the help of Walter Dickie at Lloyds TSB everything was put into place and in 2006 the first wave of money was being put to work in communities.
Ferndale Skate Park was the first beneficiary, although they are no longer with us, leaving Awel Aman Tawe (AAT) as our ‘oldest living borrower’. Since taking on a loan to buy their premises in Cwmllynfell, AAT have grown exponentially and have gone on to be a shining beacon for the renewable energy sector in Wales ,as well as a great ambassador for SIC loan funds.
20 YEARS AND £20 MILLION LATER
Twenty years on we’ve provided over £20 million in finance to more than 300 organisations across the whole of Wales. Many have returned on multiple occasions as they see repayable finance as key to realising their growth and impact ambitions. If one of our main aims was to create an evergreen loan fund, that box has been firmly ticked.
At the risk of polishing our own halo, we reckon we’re getting it about right if so many people want to use what we can offer. It’s been great to be recognised on the wider stage as well with Social Enterprise UK’s ‘Social Enterprise Deal of the Year’ awards in 2017 and very recently in 2025.
NO SHORTAGE OF INSPIRATION
It’s seeing that growth in organisations in their scale, confidence and impact that makes the SIC team such a great one on which to work. We’re definitely not short on inspiration to get us out of bed in the morning, which we’re sure you’ll see shine through on the faces of the people in the videos we’re sharing through this birthday year.
We’ll also be sharing the results of our Return on Social Investment report but somehow, whilst absolutely necessary, measuring things in financial terms doesn’t feel quite appropriate. Smiles and joy are what tell the real story.
CELEBRATING 20 YEARS
For us, our celebrations this year are about trying to capture and showcase that emotion and maybe spread a little more. We hope you like what we have planned (watch this space).
Yes, SIC by many measures has been a success, but that’s not our success, it’s the success of you, the organisations in our sector. We do our bit to help, but your energy, dedication and zeal for your mission are what makes the magic happen.
Here’s to the next twenty years. Keep doing what you do so well and we’ll be there for you.
Find out more about the 20th anniversary of Social Investment Cymru. Social Investment Cymru has helped voluntary organisations of all shapes and sizes invest in the change they want to see – explore how repayable finance could support your ambitions.