Springboard for the Arts Launches Endorsement Program with Kiva

Artists can now apply for matched funding for Kiva micro-loans up to $25,000 through Springboard for the Arts

Springboard for the Arts is excited to announce a new partnership with Kiva, the microlending platform, with support from the Surdna Foundation, to help artists access capital to grow their businesses.

Artists across the US are now able to apply for Kiva loans and receive matched funds through Springboard for the Arts’ new endorsement program. Artists may borrow up to $25,000 with a 36 month loan term at 0% interest. Thanks to the Surdna Foundation, Springboard will hold a fund reserve of $50,000 to support artists and their fundraising.

This partnership began as a way to help artists looking for capital to expand or invest in their work achieve their goals in a fair and equitable way. During an initial pilot in 2017, Springboard worked with 7 artists to leverage over $43,000 in funds for their work, and offered technical support and assistance to artists interested in seeking financing through Kiva.

Kiva is an international nonprofit organization, based out of San Francisco. Founded in 2005, their mission is to connect people through micro-lending without leading individuals and communities into poverty. Through international activity, Kiva contributors are able to support others hoping to create a sustainable future for themselves.

“Lending is something that historically artists haven’t really thought about as being for them, or haven’t been invited to consider,” says Laura Zabel, Springboard’s executive director. Kiva, she says, is one of a larger set of loan-based options that artists can explore.

Blayze Buseth, a ceramicist based out of Fergus Falls, Minnesota, was the first artist to benefit from participating in Springboard’s pilot endorsement program with Kiva. Buseth saw the potential to turn his art into a successful business after receiving many requests for commissions including his signature customized cremation urns, or “Legacy Vessels,” and was ready to take the necessary steps to launch his career, but needed a financial resource to tap into in order to make that happen.

“I started out developing a business plan with one of my friends from town,” said Buseth, “we were thinking about how to generate money and do things differently and devise a business plan around getting my custom urns out there.”

Artists like Buseth can try to cover materials, studio space, travel, and other costs simply by selling their work, applying for grants, or launching an online crowdfunding campaign, but these routes often require a significant investment of time and effort, be limited to a specific project, or require an existing network of friends and fans who can help. Microloans can help artists bridge the gaps between other sources of funding. An artist might be able to cover the materials needed to fill their first big commission, a down payment on their own studio, fees for conferences and fairs where they can show their work and reach new people, or any of a number of jumping-off points for their career.

“Grants are great, but when you apply for a grant or fellowship, you’re putting that timeline and power and agency in someone else’s hands, to decide if you get that money,” says Laura Zabel, Springboard’s executive director. “At Springboard, we like platforms or mechanisms that put the power back in the hands of the artist. It’s a much more active way that you can pursue building your business.”

“Once I received the funds I rented studio space and renovated it, had a work station to fire my urns and turn a pretty small studio space into a bigger space. I was able to purchase clay, other resources and even develop business cards,” said Buseth, whose loan was fully funded in August of 2016.

Additionally, Buseth has grown his audience nationally and internationally through connecting with supporters in his micro-lending network. Many of whom have stayed in touch with him beyond offering their initial support. “Just last week I had one lender buy one of my pieces. It’s great how they get to know you through the process and it creates a much more long lasting relationship,” he shared.

For artists interested in applying for a Springboard-endorsed Kiva loan, it’s recommended to review Kiva’s eligibility guide for loan qualification. The most eligible candidates are artists who have clear business goals and a stable plan for repayment. On Springboard’s resources page of their website, artists can find toolkits and business support which may help increase eligibility for endorsement.
“I think having a realistic plan to pay that money back is really important,” shared Buseth,“the one thing that probably helped me the most was the Work of Art series because that was my introduction into business planning.”

“Kiva’s artist loans really compliment Springboard’s suite of business resources that include our toolkits, business consultations and Work of Art series. Combined, these products can really help creative entrepreneurs reach their goals and take their businesses to new levels,” says Caroline Taiwo, Economic Opportunity Program Director with Springboard for the Arts. “Lending can be accessible and socially sustainable. Through our partnership with Kiva, we aim to support artists striving to impact their lives, their communities and the world.”

For more information about Springboard for the Arts endorsed Kival loan eligibility, or to apply, visit: https://springboardforthearts.org/grants-funding/kiva/

About Springboard for the Arts

Springboard for the Arts is an economic and community development organization for artists and by artists, based in Saint Paul and Fergus Falls, MN. Springboard’s work is about building stronger communities, neighborhoods, and economies, and we believe that artists are an important leverage point in that work. Springboard for the Arts’ mission is to cultivate vibrant communities by connecting artists with the skills, information, and services they need to make a living and a life. Our programming focuses on supporting the work of artists through professional development, health, and legal resources, and creating systems and programs for communities to connect to the creative power of their artists. We share this work nationally via our Creative Exchange platform (www.springboardexchange.org) and by freely sharing our work and creating connections among artists and communities, we work to make substantial, system-wide change. For more information, visit www.springboardforthearts.org.