The Arts Impact Fund has provided artFix with a loan to expand its unique arts-focused community cafe offer across two new sites, giving more people the opportunity to experience art on the and be creative.
artFix exists to establish creative participatory spaces that engage local communities, giving voice to vulnerable social groups and support a collaborative approach to addressing social issues through the arts. Prior to the Arts Impact Fund’s investment, artFix ran a single community café in Woolwich that provided a platform for local artists to display and sell their work. The venue also runs events, classes and workshops with a strong community and creativity participation ethos. The idea is to make artistic activity visible and accessible to all members of the community.
With artFix’s work being recognised by the local borough council as well property developers interested in building communities within their residential sites, a number of expansion opportunities arose for the business. Capital was needed to fund the start-up costs of potential new sites and manage cashflows for the first few months of trading. After scrutinising the business viability of the existing site and financial projections, the Arts Impact Fund offered a £200,000 loan. As part of the company’s social impact development plan, it will work to identifying clear metrics for its intended community outcomes.
Read the full artFix case study on the Arts & Culture Finance website.