We are pleased to announce Assets for Artists has enrolled ten new artists residing in Portland, Maine – the first of several new partnerships outside our home state of Massachusetts. We teamed up with the innovators at Creative Portland (who secured generous support for this program from the City of Portland’s CDBG funding through HUD) to bring financial and business training and working capital matching funds to ten artist-entrepreneurs in Portland.
The eclectic group of visual, performing, and film & media artists have already participated in our financial training “bootcamp” with Esther Robinson of Arthome, and have received intensive business counseling through the Portland office of Coastal Enterprises, Inc., to support them in developing their business plans. “It was exciting to see the level of engagement by these entrepreneurs, and their interest in supporting each other through a business planning process,” said Business Counselor Sarah Guerette of Coastal Enterprises.
At the core of the Assets for Artists program is the matched savings account. Each participant will save, over the course of two years, $2,000 in a restricted bank account. Grant funds provide a 1:1 match for this money– doubling the artist’s savings and offering a powerful boost to their working capital funds. Once an artist reaches their savings goal, the $4,000 targeted investment is used to implement a business plan for their microenterprise. We’re excited to see this group of artists take their careers to the next level with a focused business plan and the savings and matching funds to execute their plan.
Scroll down to meet our Portland, Maine artists, and follow the links to check out what they create.