This is a £3.5 million fund providing small-scale repayable finance to socially driven arts and cultural organisations working with the people and communities in greatest need.
The Cultural Impact Development Fund offers repayable finance of between £25,000 and £150,000 in the form of an unsecured loans and/or quasi-equity, tailored to the circumstances of each organisation. They also offer a blended loan and grant finance package whereby the level of grant funding is, on average, 10% of the total investment offer. They do not offer standalone grant funding.
The loan and grant funding are treated as part of their overall investment package and may be used in combination with each other for any approved investment purpose, such as:
Developing a new income stream
Growing an existing strand of work
Purchasing essential equipment
Refurbishing a building
Pre-funding a fundraising campaign