Creative Industries Investment

Bringing creativity to life in the West.

Our Creative Industries Micro-Loan Fund began as an ‘access to finance’ initiative to help creative enterprises to start or grow their businesses. The pilot was such a success that the fund has been established on a permanent basis.

The 12 creative industries that are eligible for the creative sector fund are:

  • Advertising
  • Architecture
  • Art/antiques
  • Crafts
  • Design
  • Digital media
  • Fashion
  • Internet and software
  • Music, visual and performing arts
  • Publishing

It makes funding available to sole traders, partnerships, businesses, co-operatives and groups operating in the creative industries sector by providing loan finance ranging from €5,000 to €25,000.

The loans are repaid by monthly direct debit over one to five years with an interest rate of the prevailing EU reference rate for Ireland plus 6.5%.

Assessment criteria

For us, the key criterion for assessing whether a creative industries enterprise will be eligible for funding under the Creative Industries Micro-Loan Fund is the repayment capacity of your business. We also look for a strong promoter with a proven track record and relevant skills to make the venture a success.

WDC loan interest rates

All of our business loans are made at commercial interest rates – the prevailing EU reference rate for Ireland plus an approximate margin depending on the risk profile of the project (assessed by the WDC Investment Fund executive). Interest rates are variable and are reviewed on an annual basis – the current EU reference rate for Ireland is -0.15%*.

* WDC policy is to use a base interest rate of zero when the EU reference rate for Ireland is negative, and then we add the appropriate margin.

The WRAP Fund

The Western Region Audio-visual Producer’s Fund (WRAP Fund) was set up to help build the region’s audio-visual sector. It is a joint initiative between the Galway Film Centre and WDC in association with local authorities in Clare, Donegal, Galway City, Galway County, Mayo, Roscommon, Sligo and Udaras na Gaeltachta.

The WRAP Fund is designed to provide strategic investment that encourages regional production activity across the film, television drama, animation and gaming sectors, to support local talent, create sustainable employment, build the audio-visual infrastructure and contribute to the culture and language of the Western Region. You can read more about the WRAP Fund here

Application procedure

If you wish to apply, then you should first of all assess your project against the criteria outlined above.

You will need to forward a completed and signed application form with an up-to-date business plan to:

WDC Investment Fund
Dillon House
Ballaghaderreen
Co. Roscommon
F45 WY26

investment@wdc.ie

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