The Cultural Impact Development Fund provides small-scale repayable finance to socially driven arts and cultural organisations working with the people and communities in greatest need. Previously a loan fund, it will now include grants up to 10 per cent of the total investment. It has been restructured to be more responsive to the economic shock of Covid-19 and aims to offer more flexible financial support to organisations as they adapt.
Between £25k and £150k is available in total, repayable over up to five years. The loan and grant can be used in combination for any approved 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.