This week, FMA joined with IFF, MacArthur Foundation, and MB Financial Bank in kicking off the launch of the Arts and Culture Loan Fund! The fund will help small and medium sized arts and culture organizations manage cash flow challenges by providing loans and training in financial management. The program is open to arts grantees of the MacArthur Foundation or the MacArthur funds at the Prince Charitable Trusts and the Richard H. Driehaus Foundation. Learn more about eligibility here.
As a partner in the MacArthur Arts & Culture Loan Fund, FMA serves as the first point of contact for organizations seeking to apply for a working capital loan through the program. As part of the intake process, FMA provides one-on-one consulting support to help organizations become loan ready and strengthen their financial systems and processes. In our role as technical assistance provider for the loan fund, FMA also facilitates periodic group learning events with the goal of building capacity for stronger financial management among eligible program participants.
This program is part of FMA’s Cohort-Based Capacity-Building work, which you can read more about here.