Art Loans are a way for new or existing businesses and nonprofits to contribute to the creative vibe in Eugene while boosting their bottom line. Made possible through a collaboration of the City of Eugene and the Arts and Business Alliance of Eugene, these loans encourage Eugene businesses, artists and nonprofits to incorporate art in a way that promote economic growth. In Eugene, art means business.
Funds can be used for but are not limited to:
Bridging a gap in funding for events or performance production expenses and artists fees that are secured by event revenue or box office receipts
Paying for new signage or a mural on the side of a building
Covering the cost of materials for a commissioned artist
Funding historical renovations, storefront improvements and creative place-making projects or events
Interest rate is fixed, typically below market, for the term of the loan.
Repayment terms are structured to meet individual project needs.
$50 non-refundable application fee
Acceptable collateral includes business assets, assignment of guaranteed funding, real property and/or personal guarantees.
$10,000 - $100,000: dependent upon availability of funds. Applications for larger or smaller loan amounts may be considered on a case-by-case basis.
Project financing will not exceed 50% of overall project budget
“Eugene Ballet’s partnership with the city has provided unique opportunities for us to expand over the past 40 years. Whether it’s commissioning exciting new music for The Snow Queen, new choreography for Wandering On, or the live performances of Orchestra Next, creating remarkable dance requires collaboration. The City of Eugene Art Loan program provided critical short- term financing solutions, making it possible for us to commission these artists and bring these incredible productions to life.” - Josh Neckels, Executive Director Eugene Ballet