Galway Bay fm newsroom - The Western Development Commission is lowering interest rates on loans it provides to Galway community and non-profit groups.
The Commission's Community Loan Fund provides capital for projects which improve the social and economic development of a community.
Interest rates on these loans will drop from 5 percent to 3 percent starting from January 1st.
In Galway, the Community Loan Fund has supported groups such as Tearmann Eanna Day Centre in Tully, Rainbow Community Childcare in Ballybane.
In total the loan fund has backed 43 projects in the ten years since it began - supporting over 800 jobs in the western region.
Investment Manager of the WDC Gillian Buckley says loans from the from the fund can help community projects qualify for grant money.
