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Creative Business Loan Fund is sponsored by Pennsylvania Council on the Arts (in partnership with Bridgeway Capital, Rising Tide Community Loan Fund, and Community First Fund). This fund provides affordable, flexible financing to small, creative businesses across Pennsylvania. Eligible uses include working capital, equipment purchases, renovations to retail, production, or office space, and in limited cases, building acquisitions.
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Pennsylvania: Creative Business Loan Fund - NASAA NASAA Notes: November 2020 Pennsylvania: Creative Business Loan Fund A professional dancer is recorded in a studio. Photo courtesy of the Pennsylvania Council on the Arts In an exciting new opportunity for small creative businesses across Pennsylvania, the Pennsylvania Council on the Arts (PCA) has organized the Creative Business Loan Fund .
This Creative Business Loan is the direct result of a unique public-private partnership between the state, Bridgeway Capital and Community First Fund . It makes $2. 2 million available to support the important role that creative enterprises play in employment and economic growth.
These loans will provide an average of $75,000 to craft manufacturers; arts schools; architecture, design and fabrication firms; media companies; and visual and performing arts production agencies. With competitive rates and flexible financing, the loans can be used for growing the business through investing in working capital, equipment, building renovations and, in limited cases, building acquisitions.
Successful applicants also will be supported with small business technical assistance. Focusing on small, for-profit creative enterprises, these loans will foster business development that can help communities in the commonwealth recover from the COVID-19 pandemic.
The loans are divided between the two community development financial institutions (CDFIs), Bridgeway Capital and Community First Fund, with each CDFI responsible for 50% of the total $2. 2 million. Bridgeway Capital, which focuses on underserved populations and promoting community revitalization, will be responsible for applicants from western Pennsylvania.
Community First, which works with low-wealth communities, will cover the eastern part of the state. Continuing both CDFIs’ investment in underserved populations, this loan will prioritize funding for businesses that serve low-income, small or rural areas and communities with a history of disinvestment. For questions and more information, contact Pennsylvania Council on the Arts Director of Creative Communities Sarah Merritt .
From the President and CEO President's Message and a Salute to You—the Stars! M American Samoa: Sogelau Monument Project Maine: Audience Outlook Survey Pennsylvania: Creative Business Loan Fund With Election Results Pending, Outlook for 2021 Uncertain Announcements and Resources NASAA News and Current Information To receive information regarding updates to our newslettter. Please
According to the current listing, eligibility includes: Small, creative businesses across the commonwealth of Pennsylvania. Applications currently reviewed on a rolling basis. Confirm the full requirements in the official notice before applying.
Creative Business Loan Fund is funded by Pennsylvania Council on the Arts (in partnership with Bridgeway Capital, Rising Tide Community Loan Fund, and Community First Fund). Verify program details on the funder's official page before applying.
This opportunity targets applicants in Pennsylvania. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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