Link for CRF: Repayable Finance – https://www.artscouncil.org.uk/funding/culture-recovery-fund-repayable-finance-round-two#section-1

About CRF: Repayable Finance round two

This investment is primarily intended to support culturally significant organisations as they transition back to a viable and sustainable operating model during the 2021/22 Financial Year, and to support them to deliver a clear plan that returns them to that point. The minimum amount that can be applied for by organisations is £1 million and there is no upper limit, however the maximum budget available for the programme is £100 million.

How this fund interacts with CRF: Grants round two

For Culture Recovery Fund round two, the DCMS is setting individual and aggregate limits on the amount of Grant funding that can be applied for. These limits are £1 million for profit-making organisations and £3 million for non-profit organisations per round, and in total across the CRF rounds.  These limits apply to all Culture Recovery Fund: Grants programmes, including those delivered by National Lottery Heritage Fund, Historic England and the British Film Institute.

This means for example, if a non-profit organisation received £2.5 million in CRF: Grants at round one, then they would only be eligible for a Grant of £500,000 in round two. If that organisation had a financial need greater than this in round two then they should consider making an application for Repayable Finance.

We are planning to publish the Grants guidance at the end of the week, subject to DCMS approval.

Guidance for Repayable Finance round two will be published here. Portal is due to open today (time TBC) and closes on Monday 7 January.

Best wishes, Claire

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