The Arts & Culture Impact Fund will offer loans of between £150,000 and £1million with a 10-year repayment period. The total investment pot will be at least £20m.
"We are very excited to be part of this new collaboration that will support the culture and heritage sector to be more innovative, resilient and sustainable."René Olivieri, Interim Chair of The National Lottery Heritage Fund
The Fund is open to applications from organisations of all sizes across the arts, culture and heritage sectors in the UK. It specifically targets organisations making a clear social impact, including museums, libraries, archives and heritage organisations.
The aim is to help these organisations innovate and grow.
René Olivieri, Interim Chair of The National Lottery Heritage Fund, said: “We are very excited to be part of this new collaboration that will support the culture and heritage sector to be more innovative, resilient and sustainable. The Arts & Culture Impact Fund, the largest of its kind, creates a great opportunity for change that will help organisations increase their positive impact on people and communities.”
The Arts & Culture Impact Fund is being launched by innovation foundation Nesta, which has committed £6m. The National Lottery Heritage Fund has committed £2m, with further funds coming from:
- Arts Council England
- Esmée Fairbairn Foundation
- Big Society Capital
- Bank of America
Recipients of the loans may also benefit from additional support from Nesta such as business advice.
The Arts & Culture Impact Fund follows Nesta’s Arts Impact Fund and the Cultural Impact Development Fund, which support organisations such as The National Holocaust Centre and Museum and Birmingham Royal Ballet.
Find out more and apply on the Arts & Culture Finance website.
As part of our Strategic Funding Framework 2019-2024, we have committed to widening our remit to include social investment. We're also investing in new funding for enterprise and business skills training.