Space 4 Art
What they do & why we invested
Space 4 Art, which provides affordable studios and live-work units for artists, free art exhibitions and community events for the public, and art-based education to young people in underserved neighborhoods, serves as a crossroads where artists and innovators from different disciplines can come together to share ideas and experiences in an affordable and accessible place. Seeing a decline in philanthropic donations and grants due to COVID-19, the nonprofit sought funding to refinance loans with higher interest rates.
The monthly savings from refinancing would allow them to relaunch their in-person STEAM program, which was moved online due to COVID-19 and was previously funded by a non-renewable Community Development Block Grant. To repay the loan, Space 4 Art intends to sell land they own valued at $2.85 million, the proceeds from which will also allow them to relocate to a move-in ready property, which would house an additional 20 artists and include a performance space, workshop, and classroom.
COVID-19 economic recovery
San Diego County COVID-19 Small Business & Nonprofit Loan Program (nonprofit loan pool)
Date of Investment
San Diego County