Cultural & Creative Sectors
Culture shapes today.
Creativity shapes tomorrow.
Entrepreneurs in the cultural and creative sectors enrich our lives, bringing together our past, present and future, through their passion and artistic expressions.
Yet the nature of their work – like their intangible assets and high upfront costs - often means that these sectors face significant difficulties when it comes to finding financial support.
This is why we launched a financing programme specifically designed to support entrepreneurs active in these sectors.
“This financing was definitely important, a crucial help for us. This type of activity has a very hard time accessing financing from traditional banking”
ACROSS 23 COUNTRIES:
"The fact that creativity and innovation are supported at the European level is very important for us because a company like ours would otherwise not have the necessary funds to self-finance projects of this magnitude.”
The CCS Guarantee Facility offers a portfolio guarantee free of charge to financial intermediaries like banks and guarantee institutions, absorbing part of the risk that they take so that they are in a better position to provide EU-backed loans to businesses active in the cultural and creative sectors.
At the same time, we have offered free technical assistance to these intermediaries, helping them improve their understanding of the specific needs and circumstances of businesses in the cultural and creative sectors. This has allowed them to extend their financial support in terms of financing volumes, sectoral coverage, and identifying new prospects.
Four years down the line, this has ultimately improved access to finance for these businesses.
“The CCS Guarantee Facility has been our key to reach out to new sectors such as music or performing arts. Actually, we can say that the European instrument has decisively contributed to help CREA become the leading financial institution in Spain for the CCS, actively supporting any area of the cultural and creative industries.”