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Entrepreneurs from the creative and cultural industries are now able to apply for loans from Arts Council England (ACE). Creative Industry Finance is a one-year pilot programme offering London-based, small to medium enterprises loans of between £5,000 and £25,000, repayable over one to three years at 10% APR. The programme is being delivered by ACE in partnership with East London Small Business Centre, which, alongside the Crafts Council and UK Music, will supply business support to borrowers. The aim of the programme is to assist creative entrepreneurs wishing to develop and grow their business as a commercial enterprise, with a view to becoming financially sustainable. Alan Davey, Chief Executive of ACE, said: “This is the Arts Council’s first foray into a loan scheme of this scale and crucially it is with a programme that recognises the interplay between the cultural and creative industries.” A second pilot area will be announced soon.