Financing solutions for CCI
In addition to bank financing, there are a number of other solutions to help you secure the necessary funding to create or develop your project
Searching for fundings
Before seeking funding, it is crucial to consider the benefits you can offer during negotiations, such as access to your audience or the active involvement of your target groups in your cultural initiatives. Not all financing methods are necessarily suited to your activities or the advantages you can provide. Some financiers will only commit if the return on investment is clear, while others may be more interested in a societal impact rather than a financial one, or even a combination of both.
The search for funding is only one aspect of the overall strategic and financial management of your organisation or business. Begin by reviewing your current business model and documenting it, allowing you to explore further innovations.
No matter what financing sources you pursue, the starting point is a well-defined business model and plan to present to potential investors. Only once you have a clear and comprehensive understanding of your current business model can you consider changes to increase your internal revenue and reduce your dependence on external funding.
The Screen.Brussels fund
The Brussels-Capital Region supports the audiovisual sector (cinema, documentaries, TV series and webseries, audio formats, XR, gaming, etc.) by investing 3 million euros a year in project content. screen.brussels funds productions that spend all or part of their audiovisual budget in Brussels.
Loans & investments
Traditionally, banks are very cautious and only lend when they believe there is a guarantee of repayment with a financial profit. This means that they are generally reluctant to grant loans to start-ups or companies without a track record of success, adequate collateral or regular income. However, there are alternatives.
👉Please note, however, that the following structures do not finance one-off cultural or creative projects. These organisations fund entities (limited companies, non-profit associations, partnerships, etc.) that can demonstrate long-term operations and revenues and present a viable investment programme.
micro-credits
Micro-credit involves granting small loans to micro-entrepreneurs and individuals wishing to test and launch a business, as well as active entrepreneurs. Micro-credit can be used to finance all kinds of needs (equipment, stock, cash flow, business start-up, renovations, vehicles, etc.).
Triodos
Triodos Bank and the European Investment Fund (EIF) signed a guarantee agreement for the creative and cultural sectors in 2021. This guarantee scheme is covered by the European Union's Cultural and Creative Sector Guarantee Facility (CCS GF), an initiative supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
The guarantee aims to strengthen the financial capacity and competitiveness of businesses and organisations active in the cultural and creative sectors. This enables entrepreneurs to access financing at lower interest rates or with more limited collateral requirements. Triodos provides 50 million euros for cultural projects in Belgium.
This guarantee mechanism is intended for micro, small and medium-sized enterprises (SMEs) in the cultural and creative sectors, which often find it difficult to access affordable financing in the form of loans for their projects.
Eligible sectors include architecture, libraries, arts and crafts, audiovisual (cinema, television, video games and multimedia), cultural heritage, design, festivals, music, performing arts, publishing, radio and visual arts.
Depending on your financing needs, Triodos can develop a tailored proposal with credit options such as investment credits, fixed loans and cash flow loans.
Hefboom
The Cultural Credit is an initiative by the Flemish government to invest in culture, facilitated by the investment company, Hefboom. The credit is designed for artists and organisations active in the cultural sector, including legal entities and self-employed individuals, (as a primary or supplementary activity). Cultural professionals without a company number who provide artistic services for payment are also eligible, through an employment contract, a Social Office for Artists (BSK) or a small allowance. Both cultural organisations and individual artists can benefit from these credits whether they are start-up initiatives, growth projects or mature organisations.
ST’ART
ST'ART is an investment fund that offers financing (loans, equity participation, guarantee funds, calls for projects) for those operating in the cultural and creative sectors based in Wallonia and Brussels. It should be noted that ST'ART does not finance one-off and/or temporary projects, but rather organisations.
Finance & invest
finance&invest.brussels is a regional public institution whose mission is to complete the financing chain and provide tangible solutions to the financial needs of Brussels' entrepreneurs at key moments in their existence: creation, development, innovation, international expansion, environmental transition, transfer-takeover. Finance & invest.brussels offers loans, equity participation, guarantees, etc. Like ST'ART, Finance & Invest does not finance one-off and/or temporary projects, but rather organisations.
The Proxi Loan
Are you considering borrowing from your friends or family to grow your business? It's easy with the Proxi loan! The Proxi loan uses the savings of private individuals, often called "Family, Friends and Fools", to finance self-employed individuals or SMEs in Brussels. By granting this loan, the private lender can enjoy a tax benefit in the form of an annual tax credit.
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