Makers, do you need help financing your next project? Apply for a loan of up to £7,500.
CRAFT Flexible Finance is a new two-year pilot project run by Castlemilk Credit Union (CCU) that offers loans exclusively to Scotland-based makers. Credit unions serve the community so when you invest in your local credit union you know that the people who are benefitting are your peers and not outside shareholders.
We know the challenges of cash flow and access to reasonable rates for loans for makers. Makers have shared this with us in Craft Scotland and Creative Scotland’s research within the Scottish craft community.
With CRAFT Flexible Finance, you can apply for an affordable, flexible loan up to £7,500 to support any aspect of your creative practice. You might need a cash injection to purchase new equipment or set up a studio space, cover the stand costs of taking part in exhibitions/trade shows or even produce a new body of work.
This two-year pilot project has been developed after a feasibility study carried out by the Scottish League of Credit Unions and Craft Scotland, with support from Creative Scotland.
CRAFT Flexible Finance is based on the credit union model that is built on a shared bond of responsibility within a community.
Craft Scotland’s role in CRAFT Flexible Finance is to facilitate applications to CCU and make an initial assessment on the relevance and appropriateness of the proposal to the makers creative and business practice. After this, CCU is solely responsible for making the financial assessment based on their criteria and liaising with the customer.
Please note, Craft Scotland is not advising makers to take out loans of any kind, through this scheme or otherwise. CRAFT Flexible Finance is one of several sources of finance available to support your practice. These loans should not be seen as a replacement for grants but complimentary to them.
CRAFT Flexible Finance is run by Castlemilk Credit Union, they are advised by Craft Scotland.
Many opportunities are uploaded by craft people, places, and organisations. Craft Scotland does not organise the opportunities and is not responsible for incorrect details. Any queries should be directed to the organiser.