The NYC Bridge Funding for the Arts (“NYCBFA”) is a joint-venture of SeaChange Capital Partners.
A.R.T./New York and SeaChange Capital are pleased to partner to meet the unique liquidity needs of the New York City theatre community. From securing Equity bonds to accommodating adjustments in a production timeline, we appreciate that your cash position shouldn’t limit your ability to produce, evolve, and adapt. Working together to offer competitive rates, technical assistance, and low barriers to entry, the NYC Bridge Funding for the Arts is a responsive and personal financing option. Below are the general terms though these may vary on a case by case basis.
Application
Eligible 501c3 A.R.T./New York Organizational Members can apply anytime, applications are ongoing.
We encourage interested nonprofits to reach out directly to mkim@seachangecap.org to schedule an introductory call. Additional materials may be requested after your initial application is submitted.
NOTE: Please allow at least four weeks from application submission to process and finalize loan terms.
Eligibility
To qualify for a cash flow loan applicants must be organizational members of A.R.T./New York with 501c3 status. All loans require the approval of SeaChange and A.R.T./New York. Individual members are not eligible to apply for NYC Bridge Funding Loan.
Terms include:
- Loans may not exceed $50,000.
- Term: 6 to 12 months
- Interest Rate: 5% – 7%
- Closing Fee: 1% of loan amount
- Additional terms and conditions apply.
About SeaChange
SeaChange Capital Partners (“SeaChange”) helps nonprofits work through complex financial and organizational challenges by providing grants, loans, analysis and advice. In addition to NYCBFA, SeaChange manages several other funds that provide flexible, impact-first loans to New York City nonprofits across all sectors and sizes. More information about SeaChange is available at www.seachangecap.org.
Contact
If you have questions about any of the above documents or the Cash Flow Loan program in general, please do not hesitate to contact Minji Kim at mkim@seachangecap.org.