A&BC, BMG Partnership create Microfinance Avenues for Artists

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Microfinance Focus, May 17, 2012: The Arts Business Council of Greater Boston (ABC), has partnered with Bentley Microfinance Group (BMG) of Bentley University to create ‘The Artist Investment Fund’. The Fund will offer microloans, financial literacy and credit building services, and business development support to area artists.

This fund has been developed to contribute to a more business savvy and economically independent arts community. The Fund is one of several ABC programs that bolster artists’ professional development, improve their access to business tools, and forge partnerships that open new doors.

Jim Grace, Executive Director of the Arts Business Council, said, “Artists encounter pivotal points in their careers that require a boost to help them showcase their talent, whether that means purchasing equipment, renting space, or developing materials to improve their opportunities. This Artist Investment Fund can provide that boost, and is a perfect fit with other Arts Business Council programs that promote the development of artists as entrepreneurs.”

Bentley Microfinance Group created this fund that targets lending to local entrepreneurs in the Greater Boston area who have found the traditional means of accessing capital closed to them. The Group is a primarily student-run 501(c)3 non-profit organization.

The launch of this fund will be announced by ABC at its annual gala, Martinis Masterpieces, on June 13 in SoWa. This event features a tour through artists’ galleries on Thayer Street, gourmet selections prepared by celebrity Chef Tony Ambrose, music by Zumix, a silent auction, and other attractions.

The Arts Business Council strengthens vibrant arts community by providing quality direct legal and business services and ongoing educational programs to the artists and cultural organizations within Massachusetts. The Bentley Microfinance Group, a non-profit organization supported by Bentley University, helps entrepreneurs by granting small loans to give them a jump start.

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