Program Overview
The Creative Business Loan Fund supports affordable, flexible financing to small, creative businesses across the commonwealth. Inspiration for creation of this fund stemmed from the awareness of a growing need for financial support for creative small businesses, which are important drivers of employment and economic vibrancy.
The program encourages the participation of interested creative businesses located in communities across the commonwealth, including those located in low-income communities, urban, suburban, and rural communities.
Eligible Uses
Eligible uses for Creative Business Loans include:
- Working capital;
- Equipment purchases;
- Renovations to retail,
- Production, or office space; and,
- In limited cases, building acquisitions.
What is a creative business?
Under the program's definition, creative businesses include craft manufacturers, arts schools, architecture, design and fabrication firms, media companies, and visual and performing arts production agencies.
Loan Fund Management
The fund is managed by Bridgeway Capital, Rising Tide Community Loan Fund, and Finanta (formerly Community First Fund), each holding a defined percentatge of responsibility for deploying available loan capital and providing small business technical assistance in their respective regions.