Bedford Creative Arts: A good news story to bring in the New Year

With a number of politicians telling us that this year’s going to be a difficult one, we thought we’d lighten things up a little with a success story to see in the New Year.

Bedford Creative Arts (BCA) is a visual arts charity which delivers a varied artistic programme to connect and engage with a wide range of people in Bedford. In 2008, CAF Venturesome provided a £30,000 standby facility to help with cashflow. The facility was fully repaid at the end of 2011.

BCA Artist Jo Roberts leading a Doodle Walk for The Big Draw, October 2011.

BCA’s attracts funding from a range of sources. However, in 2008, recessionary pressure was such that funding all but collapsed leaving BCA extremely vulnerable. It became difficult to cover fixed costs.

CAF Venturesome offered BCA a £30,000 standby facility over two years to alleviate the immediate cashflow crisis. The organisation drew down the funds 9 months after they were provided, using the breathing space allowed by the funds to relocate to new premises, restructure the organisation, and strengthen it’s financial position.

In 2011 BCA was successful in its application to the Arts Council for a three year funding programme.  This will enable the organisation to deliver its new business plan in a more sustainable way, allowing a modest surplus each year in a bid to re-build reserves.

With this strategy in place, BCA fully repaid the loan in 2 years. CAF Venturesome’s support aims to move an organisation into a stronger position; for BCA, the loan gave the organisation much needed breathing space to plan and restructure, and at repayment cashflow was no longer an issue.

Dawn Giles, Chief Executive of BCA said “without the loan facility from CAF Venturesome, BCA would not have survived.  With the loan we have been able to build strong foundations for a new-look organisation and look forward to the next 20 years or so, providing quality art experiences for the people of Bedfordshire and beyond”.

If you would like to discuss a loan application for your charity or social enterprise please contact CAF Venturesome on 03000 123 300.