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Arts Council England are conducting a Procurement for a Framework of Financial Advisors to support with the administration of the Cultural Recovery Fund loans programme.
As part of the government’s response to the Covid 19 crisis, the Department for Culture, Media and Sport (DCMS) made 37 loans to arts and culture organisations, investing £250 million. DCMS are the Lender for the loans, and Arts Council acts as their loan agent. A dedicated repayable finance team manages the day-to-day responsibility of the loan book management, monitoring, and reporting. From time to time, ACE requires an independent and impartial review of a borrower organisation and its financial model to support our decisions regarding their loans - referred to as Financial Advisors.
| Supplier | Identifier | Award Value | Lots Won | Cross-References |
|---|---|---|---|---|
| Festivals and Events International Ltd | 06434297 | - | 1 lot Lot 1: will cover Level 1 borrower organisations (typically small to medium sized arts and culture organisations, with a turnover of roughly under £15 million) | - |
This procurement was divided into 2 lots, each awarded separately. 2 bids were received in total.
| Lot | Value | Awarded To | Status |
|---|---|---|---|
| Lot 1 Lot 1: will cover Level 1 borrower organisations (typically small to medium sized arts and culture organisations, with a turnover of roughly under £15 million) Feb 2025 – Feb 2027 | £166,667 initial term | Festivals and Events International Ltd | active |
| Lot Lot 2 Lot 2: will cover Level 2 borrower organisations (typically large arts and culture organisations, with a turnover of roughly £15 million or above) Feb 2025 – Feb 2027 | - | - | cancelled |
Weightings from the notice, applied to every lot.
Published by the buyer on this notice. Check the original notice — details change and are not updated here.