The Anchoring Artists Fund
What is the Anchoring Artists Fund?
Recently, we launched our Space to Dream Initiative, a 10-year effort to ensure long-term affordability for artists and arts organizations in the Bay Area.
The Anchoring Artists Fund is one of three new tools under this initiative that we’ve created to make timely, affordable capital available for individual artists, for-profit culture makers, and informal collectives looking to acquire space.
Designed as a revolving loan structure administered by CAST, Anchoring Artists is a rapid response, short-term loan tailored to creators who are often turned away or don’t qualify for support from banking institutions or philanthropy.
How can it be used?
This is specifically for financing space acquisitions or instances like meeting a financing gap between an appraisal and a sales price of a property you’re looking to purchase. This fund is not for working capital.
Who is it for?
We encounter numerous examples of organizations whose physical space and location are synonymous with their identity. Many of the requests for help and financing that we’ve received in the past six months have been from groups and individuals who act as important hubs and conveners of a broader network yet are operating without a safety net.
If you’re part of an informal collective facing sudden property changes or you’ve structured yourself as for-profit yet serve and are devoted to mission-driven work, philanthropy is not always a viable option. Meeting the qualifications for a traditional bank to underwrite a loan can be equally challenging.
Since CAST directly administers this loan, we bring a more nuanced understanding of how artists and arts organizations navigate the ups and downs of operating and the viability of models, which allows us to provide a more rapid assessment and response.
Interested in participating?
The Anchoring Artists Fund will officially launch in January 2025 as a complement to our Creative Cities Fund. For more information and details about how you can get involved or apply, contact our investment team.
