Name of the organization: Om Bun Association
Year of establishment: 2010
Sector of activity: Social - human rights - development of local communities
City: Iasi county
The amount of the loan obtained from AFIN IFN S.A. : 70,000 lei
Credit destination: covering salaries, projects, European funds
How was the experience of getting the loan?
The experience of obtaining the loan from AFIN was unexpectedly positive. From the first contact to the completion of the process, we were impressed by the professionalism and friendliness of the team. The application process was simple and transparent, and the AFIN team was always willing to provide support and clarification when we needed it. We particularly appreciated the speed with which our application was assessed and approved. Thanks to this loan, the Om Bun Association managed to complete an important project for the community. We confidently recommend AFIN for anyone who needs efficient financial solutions and professional support.
What advice do you have for social economy organizations that want to develop but do not have sufficient financial resources and are not bankable?
For social economy organizations that want to grow, but face a lack of financial resources and are not considered bankable, we recommend exploring funding alternatives. Organizations like AFIN offer financial solutions tailored to the specific needs of the social economy, they understand the challenges and are willing to provide financial support and advice.
It is also important to identify partnerships and collaborations with other organizations, public or private institutions that share the same values and goals. They can provide support, resources and opportunities for collaboration. Partnerships can open doors to new sources of funding and resources.
What are the main lessons you have learned so far in managing a social economy organisation?
The main lessons I have learned so far in managing a social economy organization include the importance of strategic planning and flexibility. It is essential to have a well-structured plan, with clear and measurable objectives, but also to be prepared to adapt quickly to changes in the external and internal environment. For us, AFIN was part of the adaptation process. We have also realized how vital transparency in the management of funds and resources is, as this is key to maintaining the trust of our funders, partners and beneficiaries.
And we have learned that the long-term impact of our activities is more important than short-term success. It is essential that we focus on sustainability and generating a positive and lasting impact in the communities in which we operate. These lessons have guided us in the effective management of our organization and helped us create a solid foundation for future development.
What other social financing tools would you like to be developed in Romania to support social economy organizations and those that produce social impact in the community?
One such tool that could make a significant difference is the bridging loan. This type of credit would be essential for NGOs like us, who face gaps between the time they need funds to carry out activities and the time they actually receive the funding. Bridging credit for us can mean stability and continuity. At the same time, it would be interesting to create a social investment fund, which would focus more on social impact than on profit, or the issuance of social bonds to be used to finance major social projects such as the construction of affordable housing for certain social categories.
What types of additional support might be needed, apart from funding, to support the development of the organization, such as business advice, professional training or access to partner networks?
From our point of view, providing the support mentioned by you quickly and constantly is enough.
Learn more about the Om Bun Association by accessing the official website: https://asociatiaombun.info/
