Application Deadline:
Ongoing
Distributing Body:
NESTA
Grant value:
Beneficiary type:
Area:
The £3.5 million Cultural Impact Development Fund is supported by Access – The Foundation for Social Investment through the Growth Fund programme, with finance provided by its partners, The National Lottery Community Fund and Big Society Capital.
The Fund provides small-scale repayable finance to socially driven arts and cultural organisations working with the people and communities in greatest need.
The following are available from mid November 2020:
- 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. Repayment period is one to five years. Interest rates range from 5.5% to 8.5%. Up to 12 months’ capital holiday. Completion fee of 1%. Holding fee 2% per annum. No early repayment fee.
- A blended loan and grant finance package whereby the level of grant funding is, on average, 10% of the total investment offer. (Standalone grant funding is not available.)
Contact NESTA for further information.
