Technical and Financial Support

SEEDCO - ArtBusiness

www.seedcofinancial.org/newyork/arts/ 

Seedco Financial has managed the ArtBusiness Initiative since 2005, a citywide program that helps local arts organizations formalize their business practices, and plan and implement expansion projects. Seedco Financial is currently expanding ArtBusiness to serve a greater number of arts organizations in New York City.

ArtBusiness targets nonprofit arts organizations city wide and for-profit arts businesses in low-income areas; and provides a range of low-cost loans, small matching grants and free training/business advisory services.

 

Financial Assistance

For-profit arts organizations in emerging creative communities that lie in low-income census tracts such as Chinatown and Lower East Side, Long Island City, South Bronx, Jamaica and Bushwick have access to loans in the range of $25,000 to $200,000 for working capital financing, start-up costs, growth-phase, build-out costs and purchase of equipment.

Small and medium non-profit arts organizations across New York City can access loans in the range of $25,000 to $1.5 million to use for pre-development costs, construction, long-term working capital needs, growth-phase financing needs, build-out costs, seasonal cash flow crunches, start-up costs, and financial turnaround and restructuring needs.

  • For-profit Arts Organizations:
    • Loan Size: $25,000-$200,000
    • Interest Rates: 6% to 8%
    • Eligible use of funds: working capital, expansion equipment financing, start-up costs, growth-phase, build-out costs and purchase of equipment. Other qualifying uses of funds considered pending on the project.
  • Non-profit Arts Organizations:
    • Expansion projects
      • Loan Size: $25,000-$1,500,000
      • Interest Rates: 7% to 9%
      • Eligible use of funds: pre-development, construction, major leasehold improvements, and permanent financing
    • Other projects
      • Loan Size: $25,000-$500,000
      • Interest Rates: 6% to 8%
      • Eligible use of funds: working capital needs, seasonal cash flow crunches, social purpose for-profit subsidiaries, program expansion, equipment financing, receivable financing, financial and organizational restructuring

Technical Assistance

Through trainings and one-on-one sessions, Seedco Financial conducts in-depth assessments of the needs of each arts organization, providing direct consulting services when needed. Consulting services may include assistance in marketing, site planning, resource development, operations, tax issues and earned-income strategies as well as financial technical assistance relating to budgeting, financial management, real estate/site development, and debt financing.

Impacts

  • Since its inception in 2005, ArtBusiness has provided training and technical assistance to over 450 arts nonprofits and businesses, over $130,000 in grants, and over $4.8 million in loans to more than 35 arts organizations and businesses.
  • Last year alone, we approved loans to 12 arts organizations, totaling $2.2MM. We also successfully launched a new grant program in Brooklyn, and to date, have provided 5 grants totaling $10,000.
  • In addition, we assisted 34 arts organizations formalized and/or expand their organizations, through intensive one-on-one technical assistance

For further information about this program, please contact:

Edgar Zavala
Phone: (646) 843-6510
Email: ezavala@seedco.org       
www.seedcofinancial.org/newyork/arts/

           

Queens County Central Libary

89-11 Merrick Boulevard, (718) 990-0700

The Central Library offeres a wide variety of free computer and language services to all residents of Queens. See below for specific programs:

Collection Profile

The Queens Library provides free access to print, audio-visual, and electronic resources based on community needs. E-Books, Research Databases, and Selected Internet Resources by Subjects are available on the Library website in English, Spanish, French, Russian,Chinese, and Korean. Each branch of the Queens Library provides for general and local needs by collecting both general interest materials and  more specialized materials in English and other languages.

Computer Access

Free computer access is available at all the libraries. The Central Library in Jamaica has 48 public computers in the Cyber Center, 16 Express PCs, and 8 computers in the Young Adults and Children's Rooms. These computers provide free Internet access, Microsoft Office software and limited free printing. Also available are 28 computers for catalog and database access.

To use the library's workstations, please follow procedures for logging on to Queens Library Computer Workstations.  For more information, see Queens Library's Internet Policy and Guidelines for Public Use of Queens Library InfolinQ™.


Special Services