ArtsGrowSC has funds to boost your arts-based business
Application deadine: Thursday, Nov. 15
Are you looking for funds to support your arts-based business? Do you need to make a purchase to support your work? An ArtsGrowSC Individual Development Account (IDA) for Artists could provide the boost your business needs.
The S.C. Arts Commission has two slots to provide funding for Midlands arts-based businesses, in partnership with community-based partners, while funds last. Although IDAs have been used for different purposes, this program will only support arts-based business development.
How does an IDA work? These are dedicated savings accounts, similar in structure to Individual Retirement Accounts (IRAs), that can only be used for capitalizing an arts-based small business. They are supported by community organizations and other partner organizations, and accounts are held at local financial institutions. As a bonus, all participants receive economic literacy training that shows them how to clean up their credit, set up a budgeting and savings schedule, and teaches them the basics of money management.
The maximum match for an IDA savings project is up to $2,000! $1,000 saved by an artist can be matched up to $2,000.
Education, technical assistance, tools and materials will be made available to all participants. Our ultimate goal is to build a high-performing, interlinked network of community-based partnerships offering a range of financial support and other asset-building activities. This program is designed to supporting business development and wealth creation through the arts.
Deadline is November 15. The online application through Submittable is an easy process:
- Create an account,
- answer the questions,
- upload your support materials,
- and then submit.
That’s it! To apply now for the ArtsGrowSC Individual Development Account, click here.
Please contact Joy Young (firstname.lastname@example.org) for questions about ArtsGrowSC. If you need technical assistance with the online submission process, contact Cathy Lee, 803.734.8674.