ArtBusiness

ArtBusiness is designed to serve the unique challenges facing small and medium-sized arts organizations in New York City. The program offers direct financing and business consulting services to for-profit and nonprofit arts groups.

Since its launch in February 2005, ArtBusiness has provided training and technical assistance to over 450 arts nonprofits and businesses, as well as $4.6 million in loans to more than 35 arts organizations and businesses.

Seedco Financial is currently expanding the ArtBusiness initiative to serve more arts organizations in the city. The initiative targets for-profit businesses in low-income areas and nonprofit arts organizations citywide. Services available include financial assistance and a full range of technical assistance.

Financial Assistance
For-profit arts organizations in emerging creative communities that lie in low-income census tracts such as Chinatown and Lower East Side, Long Island City, South Bronx, Jamaica and Bushwick have access to loans in the range of $25,000 to $200,000 for working capital financing, start-up costs, growth-phase, build-out costs and purchase of equipment.

Small and medium non-profit arts organizations across New York City can access loans in the range of $25,000 to $1.5 million to use for pre-development costs, construction, long-term working capital needs, growth-phase financing needs, build-out costs, seasonal cash flow crunches, start-up costs, and financial turnaround and restructuring needs.

Technical Assistance
Through one-on-one sessions, we conduct in-depth assessments of the needs of each arts organization, providing direct consulting services when needed. Consulting services may include assistance in marketing, site planning, resource development, operations, tax issues and earned-income strategies as well as financial technical assistance relating to budgeting, financial management, real estate/site development, and debt financing.

For more information about this program, please contact Edgar Zavala at (646) 843-6510 or by by email.