Culture Recovery Fund loans
On 5 July 2020, the Department for Digital, Culture, Media and Sport (DCMS) announced a £1.57 billion package to protect the UK’s culture and heritage sectors from the economic impacts of Covid-19.
Culture Recovery Fund loans
Culture Recovery Fund Loans
The Culture Recovery Fund (CRF) Repayable Finance (hereafter CRF loans) programme is part of that package.
There were two rounds of applications for the Culture Recovery Fund Repayable Finance programme. DCMS made 37 loans, with a value of £250 million.
The criteria for the CRF loans were set by DCMS, and the loans are administered, monitored, and repayments received by Arts Council England (ACE), acting as loan agent on behalf of DCMS.
The loan agreement
The loan agreement
DCMS has entered into a loan agreement with all borrowers, setting out the terms and conditions for their loans. We are responsible for monitoring all the conditions. Borrowers are required to provide evidence of compliance with the conditions.
The loan management system for completing monitoring reports and requirements can be accessed here. This system is for existing borrowers only.
The loan management system is owned by DCMS and managed by their Managed Service Provider, PricewaterhouseCooper (PwC). If you have any queries regarding the system, please contact: crf.repayablefinance@artscouncil.org.uk. We will respond or pass queries on to DCMS/PwC as appropriate.
Please note that no further rounds of the CRF loan programme are expected.
The following guidance is available to support you with submitting your monitoring reports and requirements: