New Pilot in the City of Kansas City, MO Micro-Lending Program Supports City’s Arts Entrepreneurship

ARTICLE | Jul 2, 2015

The City of Kansas City, Missouri, in collaboration with the Economic Development Corporation and the AdvanceKC Arts Industry Sector, is pleased to announce a pilot micro-lending program to assist artists who are looking to grow their creative practice. Under the pilot micro-loan program, Kansas City artists may apply for short-term loans to help finance capital growth for their business. The micro-loan initiative is being developed as part of Kansas City’s commitment to supporting the goals of the Kansas City Missouri Arts Convergence Plan.

“Local artists are an important part of Kansas City’s economy, and their work helps shape and cultivate our community,” said Councilman Scott Taylor. “Artists often have limited access to financing options due to the nature of their work. This program provides the funding necessary to strengthen Kansas City’s creative economy.”

Justine Petersen has partnered with the City of Kansas City to help make an impact on the local arts by providing micro-loans to individual artists who are seeking to expand their practice by investing in new equipment, supplies or other business needs.

“Kansas City’s pilot micro-lending program for artists is part of a larger initiative to cultivate economic development in Kansas City’s arts sector,” said Megan Crigger, Director of Creative Services. “Investing in local artists is important to the growth of Kansas City’s arts industry. The pilot micro-lending program is being launched with a goal of identifying further business needs of the arts community and the effort will lead to increased opportunities to build a larger and sustainable micro-lending community.”

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