The Arts Impact Fund is a new £7million initiative to demonstrate the potential and impact of social investment in the arts.
The fund is the first of its kind to focus on the social, artistic and financial return created by arts-based organisations.
It provides repayable finance of between £150,000 and £600,000 to arts organisations in England with ambitions to grow, achieve great artistic quality and have a positive impact on society.
The fund is provided by a collaboration of public, private and charitable partners and supporters who share a commitment to supporting the arts and a belief in their importance to society: Arts Council England, Bank of America Merrill Lynch, Nesta and EsmÃ©e Fairbairn Foundation, with additional funding from Calouste Gulbenkian Foundation.
Arts organisations will need to demonstrate how they will repay the loan and that they can achieve social impact in one of the areas - youth and educational attainment; community and citizen; health and well-being.