City of Eugene and Arts & Business Alliance Offer 0% Interest Loans

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The City of Eugene and the Arts and Business Alliance of Eugene (ABAE) have dropped interest rates on their Arts Loans to 0% for loans repaid within one year and 1% for those repaid within two years, along with eliminating their matching funds requirement. 

Art Loans are a way for businesses and nonprofits to contribute to the creative vibe in Eugene while boosting their bottom line. These loans encourage Eugene businesses, artists and nonprofits to incorporate art in ways that create economic growth.

During this financially challenging time, the ABAE and the City of Eugene are working together to find new and creative ways to promote and fund arts in our community, says ABAE Executive Director Kelly Johnson. Lowering the Art Loans interest rates and eliminating the matching funds requirement is a way to help local businesses succeed. Loan amounts are typically between $5,000 - $50,000. Other loans amounts are considered on a case-by-case basis.

“Often, it’s a relatively small amount of money that is needed for a business to commission an artist, but it can really help,” Johnson says. “When we give out these loans, we not only help artists earn income and show off their talents, but we give businesses an opportunity to better demonstrate their brand and bring in new customers.”

An example of these Art Loans being put into action is NorthWest Burgers, which moved to a new location recently and needed signage that reflected their personality and brand. By accessing the Art Loan program, NorthWest Burgers was able to get a loan to pay for a visually pleasing sign that brightens their business’ facade night and day and draws in customers. 

“This art project was very important to the success of our business because it is the first thing you see when you visit us,” says Garrett Kirsch, co-owner of NorthWest Burgers. “The Arts Loan helped us fund our new sign during a time of expansion, when funds were low.”

Art Loans can be used for, but are not limited to:

  • Allowing businesses to pay artists to create signage or murals to help promote the business and draw in new customers

  • Helping arts organizations cover overhead costs during a time of minimal income

  • Allowing arts organizations to invest in technology to enable staff to work from home or to move their products and performances online

  • Funding historical renovations, storefront improvements and creative place-making projects or events

For more information or to schedule an interview, contact ABAE Executive Director Kelly Johnson at 720-318-9778 or director@artsbusinessalliance.org. Businesses wanting to inquire about loans can contact Business Loan Analyst Aaron Doreen at 541-682-5448 or aaron.x.doreen@ci.eugene.or.us.

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