Aims/priorities: The Cultural Impact Development Fund will pioneer the use of financial incentives to drive the achievement of social impact targets in its investment portfolio, making it one of the few impact investment funds with a clear trade-off of financial return for the attainment of social outcomes. The Fund is supported by Access – The Foundation for Social Investment through the Growth Fund programme, with finance being provided by its partners Big Lottery Fund and Big Society Capital. Objectives of the fund are to:
- Enable risk-taking, ambitious organisations in the arts and cultural sector to take on small-scale repayable finance in order to achieve social outcomes
- Increase the capability of arts and cultural organisations to articulate, achieve, monitor and evaluate their intended social impact
Who can apply? Arts and culture organisations based in England are eligible to apply. Charities, community interest companies and community benefit societies with a recognised charitable purpose are eligible for investment. Other incorporated entities, such as companies limited by shares, will be considered based on the strength of their social mission and whether the majority of their profit will be reinvested into that mission.
Grant amount: Loans between £25,000 and £150,000 with repayment term of one to five years and interest rates ranging between 5.5% and 8.5%
Application process: Contact NESTA for more information
Deadline: 31 August 2021
Contact information: Tel: 020 7438 2500 Email: [email protected]