Application Tool Kit
Low Interest Loans 2009
Released: July 2009
Department of Economic Development, Tourism and the Arts
Application Tool Kit – Low Interest Loans 2009
About Low Interest Loans
Low-interest Loans provide assistance towards
capital improvements, equipment purchases and
other investments. Arts organisations, individual Some common methods used to secure a Loan are
artists and small museums are eligible to apply. described as follows:
There are no limitations on what Loan funds may
be used for, provided there is an arts-related Guarantee
outcome. A guarantee is made when a third party, the
guarantor, agrees to pay back debt if the borrower
Some previous uses for which Loans have been can't or won't. Before you can sign as a guarantor
sought include: you must be given a copy of the Loan agreement
purchase of equipment, such as musical and a document that explains your rights and
instruments or artist’s tools; obligations.
cash flow to increase production;
purchase of plant or equipment; When a borrower falls behind with their repayments
financing an event; Arts Tasmania will send a written notice (a default
publication of books; and notice) to both the borrower and the guarantor. If
recording of music. the borrower does nothing about the default notice
then Arts Tasmania may initiate legal action to
Processing have the debt repaid. If this does not resolve the
matter then Arts Tasmania can take legal action
Potential applicants should note that the
against the guarantor and they will have to repay
processing time for a Low Interest Loan is at least
the borrower's debt.
six weeks (30 working days) from the date the
application is submitted.
Arts Tasmania requires that a guarantor complete
Repayments the same credit check documentation as the
applicant. If you are likely to need personal
Repayment of low-interest Loans must take place guarantees for your Loan security you may wish to
in monthly instalments that total a minimum of use the time while your application is being
$1,000 principal per annum plus interest. The assessed to ask potential guarantors whether they
lifetime of the Loan is determined by the nature of would be interested in supporting your Loan in this
the activity or the useful life of the items being way.
purchased. Arts Tasmania will not extend a Loan
beyond the life of the item. The maximum Loan Mortgage
term is ten years and the Loan term can be varied A mortgage is a legal agreement that protects a
in line with your ability to repay. There is no penalty lender by giving them the right to be paid out of the
for early payout of the Loan. cash proceeds from the sale of the borrower's
specific assets identified in the mortgage. If
property is offered as security then a mortgage is
Interest rates are variable and are subject to review taken over it. The lender will register their interest
on an annual basis. The interest rate at the time of in the property. Property that is mortgaged stays
printing is set at 2.16% p.a. (July 2009). with the borrower but they do not have a clear title
over it and cannot sell it without the lender's
Depending on the nature of the request, Loan
applicants may be required to provide security for A mortgage is drawn up and registered for Arts
the Loan amount if requested by Arts Tasmania. Tasmania by the Crown Solicitor. Charges for this
Security is provided so that Arts Tasmania may process are incurred by the applicant. They can
recover the amount of the Loan in the event that range from $200 to $500.
the borrower is not able to repay. For all Loan
requests over $10,000 the applicant must provide Caveat
security in order to take up the Loan. The form of A caveat is a document any person with a
security to be used is determined by Arts Tasmania registrable interest can lodge with the titles office to
in consultation with the applicant. ensure property is not sold without their knowledge.
Should a borrower default on their Loan, this
Some forms of Loan security are drawn up by ensures a lender gets its money before the asset is
Tasmania’s Crown Solicitor. As such, they incur a disposed of (sold) and may be the basis for
cost which must be met by the applicant. This cost collection procedures. The Loan agreement
usually ranges from $200 - $500. Applicants may entered into with Arts Tasmania is a registrable
discuss options for managing these costs with a interest and a caveat can be lodged against
Program Officer. property to serve as security against that Loan. It is
Application Tool Kit – Low Interest Loans 2009
not a mortgage; it is note on a certificate of title that confirmation from an advisor or supervisor should
indicates someone other than the owner has an be provided, confirming that the proposed loan
interest in the property which will prevent transfer in activity will not form part of an assessment.
title until any claim has been determined.
Applications involving Aboriginal or Torres Strait
A Caveat is drawn up and registered for Arts Islanders (ATSI), ATSI content or should consult
Tasmania by the Crown Solicitor. Charges for this with representatives of a relevant cultural group
process are incurred by the applicant. They can before submission.
range from $200 to $500.
Only one Loan application per year per applicant is
Conditional Bill of Sale permitted. Loans are only available to applicants
A Conditional Bill of Sale is a legal arrangement in over the age of 18.
which the right of ownership of an asset or property
is conditionally conveyed by the owner-borrower to What activities are not eligible or have
the lender (Arts Tasmania) as security for a Loan. restrictions?
The owner-borrower retains possession of the Loans are not available for:
property and has the right to discharge it on
repayment of the debt. The lender can apply to the the employment of non-professional artists;
courts for the property's possession only if the fees relating to registration with print-on-
borrower fails to meet the conditions of the Loan demand publishing services by individuals;
agreement. initial training in the arts, including formal
training at government and private performing
A Bill of Sale is drawn up and registered for Arts arts schools both in Australia and overseas;
Tasmania by the Crown Solicitor. Charges for this study in formally accredited undergraduate
process are incurred by the applicant. They can courses and postgraduate programs;
range from $200 to $500.
activities that are properly the responsibility of
other funding bodies or Government agencies
Eligibility at Federal, State or Local level;
An organisation or an individual artist is eligible to activities of national organisations, except
apply where the project or purchase for which where there is direct benefit to Tasmania;
funds are requested are based in Tasmania or competitions, prizes, fundraising events and
have direct benefits for Tasmanian artists. award exhibitions;
retrospective activity or losses resulting from
Organisations must also be legally constituted or in an activity or program except where a
the process of becoming legally constituted. This guarantee against loss has been granted in
includes incorporated associations, companies advance. Similarly, the funded project cannot
limited by guarantee, local government councils begin before receipt of formal written
and other statutory bodies. Please note that Arts notification of the Loan;
Tasmania does not fund costs associated with film, television, video and multimedia-based
incorporation. projects normally handled by Screen Tasmania
under its programs. A small number of
Applicants requesting in excess of $20,000 for an multimedia projects related to other art forms
appreciating asset must demonstrate that they (e.g. music videos) may be funded by Arts
have approached a commercial lender and have Tasmania. If in doubt, please contact a
been refused financial assistance before making an Program Officer;
application to Arts Tasmania.
publishing of: educational books (primary,
Arts Tasmania will consider applications for secondary and tertiary); university theses;
projects from private companies but the outcomes newsletters and catalogues (excluding
of these projects should be focussed towards exhibition catalogues); dictionaries and
benefits to the arts industry, rather than individual encyclopaedias; bibliographies; books which
commercial gains or subsidising an existing are primarily collections of interviews;
business model. instruction manuals, gardening and cooking
books; personal growth, lifestyle and hobby
If an applicant has received a grant or Loan in the books; guidebooks; specialist books focusing
past, Arts Tasmania cannot consider a further on topics such as philosophy, theology,
application until all outstanding grants and Loans psychology, medicine, law, the physical and
have been acquitted satisfactorily. This does not natural sciences.
include a project occurring in the current year of
application where the acquittal is not yet due. The Board may look at eligibility on a case-by-case
basis to take into account circumstances particular
Students or applications involving students are to each application.
eligible; however, Arts Tasmania can not fund any Pro-am and Amateur Productions
activity which will form part of a student’s
assessment. Where a student is applying or the The Tasmanian Arts Advisory Board does not, in
proposed activity involves students, written general, provide financial assistance for pro-am
Application Tool Kit – Low Interest Loans 2009
and amateur productions. The Board will, however, You should take each criterion into consideration
consider applications from incorporated not-for- when developing your application. The information
profit bodies for specific professional arts you provide in your application should help the
components of a pro-am or amateur production – Panel understand how your project or program
but not for the whole project. aligns with the criteria but you do not need to
respond to them directly.
If your application is for a pro-am or amateur
production and you are unsure as to whether the Your capacity to repay will be determined by a
event will be eligible for funding under the credit check that is conducted by the Department of
programs listed in this handbook, you should Economic Development. You will need to complete
contact an Arts Tasmania Program Officer to the Credit Check Form on page 14 to authorise this
discuss your project’s eligibility. process.
The Tasmanian Arts Advisory Board (TAAB) seeks
How Your Loan Application is input to its assessment process from specialist
Assessed peers on Panels appointed by the Minister.
Depending on whether you are an individual artist
An application for a Loan is assessed on both the or an organisation your application will first be
merit of the proposal and the applicant’s capacity to assessed by either the Assistance to Individuals
repay. The applicant will be required to articulate Panel or the Assistance to Organisations Panel.
their professional skills and needs, together with
the way in which the Loan will assist with their The Panel’s assessment will be taken to the TAAB
development, self-sufficiency or additional who make their recommendations to the Minister
employment. for Environment, Parks, Heritage and the Arts
Michelle O’Byrne, who is responsible for final
The merit of the proposal will be assessed by the approval of all Arts Tasmania grant funding.
relevant panel against the following criteria:
1. Quality of the proposal, including the strength Note: If your application is in excess of $10,000 it
of concept, creativity and innovative nature of will need to be approved at a meeting of the TAAB.
the work. These meetings are held every two months — this
may affect the stated six week processing time. If
2. Capacity to manage and deliver the project, this is the case you will be advised by a Program
including the calibre of the personnel involved. Officer.
3. Benefit of the project to the artists’ creative
development, professional practice and/or to
the Tasmanian Community.
Advice to Applicants
In order to evaluate your application, Arts application. Arts Tasmania Program Officers are a
Tasmania’s assessment panel needs to useful source of information and can be called
understand you and your planned project or upon to help you with your application. They are
purchase. They will need to have confidence in the always pleased to provide advice on any arts
artistic merit of your work and in your capacity to issues.
manage your resources effectively.
Individual appointments, in person or by telephone,
The application process is competitive and funding can be made prior to submitting your application.
can never be guaranteed for any project. The Call Arts Tasmania on (03) 6233 7308 or toll-free
information contained in this section will guide you 1800 247 308.
through the development of your application. You
will also find information about how to submit your A full list of the Program Officers and their contact
application and the things you will need to know if details is available on the Arts Tasmania website:
your application is successful. www.arts.tas.gov.au. Click on Arts Tasmania Staff
Contacts under the contact us button.
Help With Your Application
Although you are required to contact a Program Arts Tasmania will provide services on request to
Officer to obtain a Loan Quote (page 16) prior to assist applicants in overcoming any special
submitting your application, Program Officers are difficulties in making an application. These may
also able to assist with other aspects of your take the form of interpretive services for applicants
Application Tool Kit – Low Interest Loans 2009
where English is not their first language or other
services to ensure equity for all applicants.
Application Tool Kit – Low Interest Loans 2009
Preparing Your Proposal Where the funds will be used to purchase
equipment, the application should contain detailed
All Low Interest Loan submissions should include: information about the equipment. Brochures and
specification sheets assist those assessing the
1. the application cover page (page 8); application to better understand the proposal.
An application can not be assessed without these
2. details of you project, including;
a. Project Description (page 9);
“What you are going to do”
b. Professional Details (page10)
Preparing Your Budget
“Who you are, what you have done”
Present a clear and concise budget that outlines
c. Project Management (page 11) the income and expenditure of your project.
“How you will deliver your project”
Applicants for larger projects are strongly
d. Outcomes and Benefits (page12)
encouraged to seek co-funding from other sources.
“How this loan will help you”
Rather than detracting from the success of your
3. credit check authorisation form (page 14& 15) Loan application, diversification of funding
and your two most recent tax return relationships is viewed favourably.
statements (or audited financials for income
Do not forget to include all the support offered by
tax exempt organisations);
other people or organisations in your budget. Non-
4. Loan quote (page 16)—this will require financial support should be clearly noted as in-kind
discussion with a Program Officer; sponsorship. Anything that people give you for free
has a real value that is equivalent to what you
5. any other artistic support material or would have to pay commercially. Be careful to base
documentation, including: your claim of in-kind support on realistic or
o one page CV accepted rates.
o recent images of your work
Remember not to inflate the size of your request in
o product specifications and quotes the hope that even if it is cut it will still meet your
(when applying for the purchase of needs. All budgets should be accurate and
equipment or other assets); completely justified otherwise it will appear that
thorough research has not been completed.
When putting your final submission together, keep
the following advice in mind: Preparing Support Material
ensure the application is typed and will be
easily readable when photocopied; The need to provide relevant, high quality material
to support an application cannot be over-
it is the planning and the evidence you provide emphasised. Relevant samples of work from all
in your application which is by far the most artists involved in the project are essential to the
important element; assessment process.
do not use abbreviations, jargon, clichés or
terminology which may confuse someone Appropriate support material includes examples of
unfamiliar with the area you are writing about; artistic practice, evidence of planning and
verification of project details. Support material
keep it simple and concise; should accompany every application. Hand-
provide sufficient details without waffling or delivered material must be submitted to the Arts
unnecessary padding; Tasmania office at 146 Elizabeth Street, Hobart.
avoid over-done formatting and mixing too Support material (other than documents) will be
many font sizes or styles – but do use bullets, returned following the assessment process. While
bold headings, and charts and graphs where Arts Tasmania takes all possible care with artistic
this will help your application; material, it is not responsible for loss or damage
it is important that the artistic material and that may occur. Please ensure that all support
relevant documents are current, applicable to material is a duplicate copy.
the project and enhance your application;
All support material should be listed on the Support
always have your draft submission read by Material Cover Page (page 13) and each item must
another person, preferably someone not be clearly labelled with the applicant's name and
involved in your project. project name.
All applicants are required to authorise a credit
check and submit their previous two Income Tax
Return Statements. Organisations that are Income
Tax Exempt should provide audited financial
statements for the previous two years.
Application Tool Kit – Low Interest Loans 2009
Artistic Material should be up-to-date and relevant to the proposed
The artistic material you include should be recent area of work. Up to one page for each person is
and relevant. It should clearly support the sufficient.
application. Specific requirements vary from one art
form to another. Use the following examples as a Reviews
guide: Reviews by peers in your field, published or
unpublished, can assist in demonstrating the
Publishing calibre of your work.
Two copies of the proposed manuscript. Please
check the eligibility section on page 3 to ensure Sample Promotional Material
your manuscript is eligible. Brochures, catalogues or other material that is
clearly related to your project can be included with
Literature (other than Publishing) your application. Please provide two copies if it is
Applications for assistance with writing a novel are not suitable for photocopying.
best supported by a sample chapter (approx 10
pages) along with a synopsis. Only one copy is Confirmation Letters
required. When including examples of published Confirmation letters substantiate significant
works (i.e., books), however, two copies should be financial or in-kind support, participation of a third
provided, with ten sample pages marked. party, booking of venues, invitations to participate
and evidence of consultation. Confirmation letters
Interactive Media should demonstrate the writer's knowledge of the
Two copies of a CD-ROM suitable for playing on project, their role within it and their availability to
both Windows and Macintosh operating systems. undertake the project within the proposed
Performing Arts (other than Music)
Two copies of a good quality DVD that is up to 5 Letters of Support
minutes in length. All video material must be clearly Up to two written letters of support may be
labelled, describing the performances and each provided to comment specifically on the merits of
performer – especially in the case where more than the proposed project or program and the
one performance is included. organisation’s ability to deliver. Referees need to
be shown an outline of the project prior to providing
Music their reports. Referees should know the applicant's
Two copies of good quality CDs. When submitting work well and have appropriate status in the field
whole albums, applicants should nominate two that they are commenting on.
tracks that best showcase the album. Composition
applicants should provide two copies of an audio Submitting Your Application
recording of their compositions and are
encouraged to include scores. You can submit your application:
Visual Arts By email – to firstname.lastname@example.org
No more than 10 good quality digital images that
provide a good representation of the work. If you By hand – to 146 Elizabeth St, Hobart, before 5pm
are applying for a group show, include at least two
images per artist to a maximum of 20 images in By post – Arts Tasmania
total. Files should be in a JPEG format with a GPO Box 771
resolution of 72 dots per inch (standard monitor HOBART TAS 7001
resolution) with a maximum width of 900 pixels and
maximum height of 600 pixels (e.g. 800 X 600 is
acceptable). Only one copy of each image is Emailing Your Application
required. Please provide the images as separate Only send ONE email per application. If it is lager
files and not in a display presentation. Installation than 10mb you will have to submit it on CD or hard
view images may help the Panel to get a sense of copy. Support material can be posted separately to
the work. an emailed application.
Supporting Documentation Once your emailed application has been received
Relevant supporting documentation could include you will receive an automated reply within the hour.
confirmation letters, references, reviews, sample If you do not receive this reply your email has not
promotional materials or other appendices. Include been sent correctly and you should contact Arts
only those documents that enhance the application, Tasmania on (03) 6233 7308 during office hours.
that demonstrate a point in the application or that
confirm specific details of your project. Only one Computers are available at Online Access Centres
copy of each document is required. Use the around Tasmania for applicants that do not
following examples as a guide: otherwise have access to such facilities. For details
of the location of the nearest Online Access Centre
Biographies or Curricula Vitae (CVs) phone (03) 6233 2802.
A biography or CV should be included in your
application for all key personnel in your project. It
Application Tool Kit – Low Interest Loans 2009
Emailed applications do not require a signature. By Terms of Loan
emailing an application, the applicant automatically
certifies that all details supplied are correct and, if Payment of any Loan is dependent on the applicant
successful, agrees to abide by the Terms of Loan. receiving approval of their ability to repay a Loan
and applications for a Loan require evidence of
Format income and expenditure and financial position.
Your documents should not be bound or submitted Principal must be repaid at a minimum $1,000 per
in a folder. Paper clips are preferable, not staples, annum and the repayment amount can be varied
as pages will be separated for copying. All after consideration of ability to repay. Please note
documents should be suitable for easy that Loan funds will not be lent for a period greater
photocopying in a one-sided A4 format. than the useful life of the items being purchased.
Completeness of Applications The monthly repayment includes the monthly
interest component plus principal. The initial
It is your responsibility to provide sufficient
monthly instalment will fall due on the 1st of the
information for your application to be assessed fully
second month following the Loan drawdown. For
and fairly. Always supply enough information to
example, if the Loan drawdown occurs on 15
ensure that the application fully represents your
January, your first instalment will be due on 1
case for a grant. You are encouraged to consult
with a Program Officer prior to submitting your
application, to ensure it is complete.
All Deed documents and EFT forms should be
returned to Arts Tasmania. The repayment of your
Information for Successful Loan, however, will be managed by the
Applicants Department of Economic Development.
If your application is successful, there are some It is a requirement that all Loan repayments are by
things that you need to know and that you will need direct payment authority from your bank. The
to do before payment is made and once your Department of Economic development will contact
funded activity has been completed. you directly and arrange this in consultation with
Payment of Loans
Payment of the Loan amount via electronic funds The applicable interest rate is variable from time to
transfer (EFT) will occur after all paperwork time, and payment in full not received by the
returned by the recipient has been processed and specified due date on the respective monthly
all Conditions of Loan have been met. instalment notice will incur additional interest costs
and penalty charges.
This paperwork includes:
Where Loan recipients leave Tasmania
an original, signed copy of the deed; and permanently, they are required to repay the Loan in
an Electronic Funds Transfer Form (EFT full. In the event of the Loan recipient leaving the
Form) arts industry, the interest charged will be adjusted
to a commercial rate instead of the assisted rate
Processing of payment normally takes two to three charged to artists.
weeks for most Loans without security, four to five
weeks where security instruments such as a Bill of Loans of $7,500 and over require security by way
Sale are required. of a Bill of Sale, a mortgage and/or Guarantors.
The costs associated with this security (including,
Acquitting your Loan but not limited to, documentation fees and stamp
An Acquittal is the process of evaluation and duty) are the responsibility of the borrower. Bills of
reporting that must be done once your Loan activity Sale are required to be re-registered every four
and repayments are complete. years that there is a balance outstanding on the
Loan, at the borrower’s cost.
It should be noted that further applications cannot
be considered from an applicant who has Other conditions of Loans include:
outstanding acquittal reports. to keep the items purchased with the Loan
proceeds in good repair and condition and not
A standard Acquittal Form, will accompany the to dispose of them without the written consent
notification to a successful applicant. of the Minister whilst the Loan is still current;
to keep the items purchased with the Loan
to allow access to Arts Tasmania to inspect
the goods upon reasonable notice; and
to notify of any change of address within seven
(7) working days.
Application Cover Page: Low Interest Loans 2009
1 Applicant’s Details ! Submitting
Name of Applicant: Submitting your Application
Contact Person (if different from above): Choose one of 3 options:
Applicant’s Date of Birth: email@example.com
Street address: POST
City / Suburb: Postcode: 146 Elizabeth Street
Postal address: HOBART, TAS 7000
City / Suburb: Postcode: 146 Elizabeth St, Hobart. by 5pm
Work ph: Mobile: PERSONAL INFORMATION
Personal information collected
2 Partnerships and Collaborations in applications to Arts Tasmania
will be used by the Tasmanian
Person 1: Arts Advisory Board and the
Minister for the purpose of
Person 2: managing, assessing, advising
upon and determining the
Person 3: relevant application and may be
used for other purposes
Person 4: (*attach a full listing if more space is required)
permitted by the Tasmanian
Arts Advisory Board Act 1975
3 Amount Requested from Arts Tasmania and regulations made under
Loan Request: $ that Act. Failure to provide the
information may result in the
4 Project Details application not being
All personal information will be
Outline: managed in accordance with
the Personal Information
Protection Act 2004 and may be
accessed by the individual to
whom it relates on request to
Start Date: Finish Date: the Board.
5 Category (tick one only) 6 Region
Administration & Education Community Cultural Development North
Dance Drama West / North West
Literature & Print Media Museums & Art Galleries East
Music Music Theatre & Opera South
New Media Other Performing Arts Greater Hobart
Performing Arts Venues Visual Arts, Craft and Design Interstate
7 Cultural Content
This application involves Aboriginal or Torres Strait Islander cultural content.
This application involves Aboriginal or Torres Strait Islanders.
This application involves people from a non-English speaking background. Please specify:
8 Student Participants
This application involves students
Written confirmation that this project will not be assessed as part of the students course work is attached
I certify that all details supplied in this application form are correct
and, if successful, agree to abide by the Terms and Conditions of Sign: Date:
Loan. (See Page 7)
You must include this page with your application. Page 9
Section 1 – Project Description
In this section you should provide a detailed description of the proposed project including:
o an artist’s rational / artist statement,
o an outline of the project’s strengths, and
o an outline of its relevance to your creative / professional development
You must include this page with your application. Page 10
Section 2 – Professional Details
In this section you should include:
details of your relevant experience;
the relevant experiences of others who may also be involved in the project; and
if you are applying for equipment, specific information about the equipment and why it is essential to the advancement of
your creative development or your professional practise.
Checklist of documents for inclusion:
a one page CV,
recent examples of your work (see Support Material form); and
detailed product specifications, if applying for equipment or other assets.
You must include this page with your application. Page 11
Section 3 – Project Management
Please provide the following information:
a timeline and/or milestones of your planned activities,
a budget showing income and expenditure.
a risk management plan
You should include written confirmation from all individuals, organisations and venues involved in your project
If you are working with people of multi-cultural background you need to show that you have consulted with the relevant
Key Date Activity or Milestone
If the following budget template is not sufficient for your needs, please provide a more detailed budget as an attachment.
List all sources of income including the Loan $ $
List all costs associated with the project.
requested from Arts Tasmania
Arts Tasmania Loan:
Your Own Funds:
3 Risk Management
Identify the major obstacles to achieving the intended outcome of the Loan. Consider what could go wrong and whether you are
making assumptions that could be proven to be incorrect. State what you will do to manage or reduce risk.
Risk Consequence Probability Controls
What and how can it happen What you will do / have done.
Loss of income
Ensure piano is insured for
New piano damaged in transit Inability to repay Loan Medium
Legal action instigated
You must include this page with your application. Page 12
Section 4 – Outcomes and Benefits
This section will describe the artistic, social and/or economic benefits of the project to yourself as an individual (professional
development) and/or the environment in which you work (industry / audience development). Possible benefits could include:
developing your skills,
creating a new repertoire,
developing your reputation,
raising your profile – both to audiences and to the arts community, and
You can also talk about wider benefits to the community, such as your brining new skills back to the state.
You must include this page with your application. Page 13
Support Material Cover Page: Low Interest Loans 2009
Name of Applicant:
Please consult page 5 for information on the kind of support materials you should consider including.
While all due care will be taken, Arts Tasmania takes no responsibility for damage or loss that may occur to support material.
Do not send original material.
TWO COPIES of your artistic material, such as CDs, videos, books, brochures & booklets must be provided.
Only ONE COPY of slides, electronic images, letters, résumés, sample writing or other A4 paper material is required.
If you want your artistic support material returned, tick the relevant items in the return column, supporting documents (ie,
letters and resumes etc.) will not be returned.
Where appropriate, it is recommended that you provide some brief information about the context of artworks – so the panel
can understand why you are submitting these examples. (Eg: ―This is an example of my experimentation and the new
direction I wish to develop through my application.‖)
Full details about the submission of support material are available on page seven of this Application Tool Kit.
Type Description Return
For example: Include details such as:
CD ROM, author and title,
resume, CD and artist listing, Only artistic
brochure, book, image listing and descriptions, or materials.
letter. other information as required.
Insert new rows above as required.
You must include this page with your application. Page 14
Credit Check: Low Interest Loans 2009
This form must be completed by all applicants seeking Loans. These applicants need prior approval of their ability to repay a Loan,
and the next two pages allow you to provide evidence of your income and expenditure and your financial position.
Loans recommended by the Tasmanian Arts Advisory Board will be conditional on the credit-worthiness of the applicant being
The credit check itself will be conducted by the Department of Economic Development.
APPLICANT GIVEN NAMES:
D/LICENCE No: SPOUSE/PARTNER NAME:
(not living with you)
PHONE No: RELATIONSHIP TO YOU:
DETAILS OF CURRENT INCOME AND COMMITMENTS
INCOME (Average Monthly) $ COMMITMENTS (Average Monthly) $
Business Income Sales House repayments/rent/board
(Do not include above figure in Total monthly income below) This Loan (contact Arts Tas for amount)
Net Profit Other Loans
Salary (Net after tax) Self Credit Cards
Spouse Lease/H.P. (terminating / / )
Dividends & Commission House/contents insurance premium
Rent received Life assurance premiums
Other (provide details) Car reg. ins. and running expenses
Rates - Council and Water
Fuel, light and power
Education and fares
Living expenses (food, clothing, etc.)
Other (eg medical benefits, telephone)
Total monthly income Total monthly outgoings
Less total monthly outgoings
Uncommitted monthly income
You must include this page with your application. Page 15
Credit Check: Low Interest Loans 2009 (pg2)
STATEMENT OF FINANCIAL POSITION AS AT: ____ / ____ / ____
ASSETS $ Value LIABILITIES $ Owing
Cash at Bank: Overdraft
House property Home Loan
Govt Valuation Date: / / Other Loans
In name of Credit Card Limit $
Address: Other Outstanding accounts
Furniture & Household effects Hire Purchase / Lease
Other property (provide details) Company Asset concerned.
Motor Vehicles Other Liabilities (provide details)
Other assets (provide details) 1.
Total Assets Total Liabilities
Less Total Liabilities
I/we declare that the information given on this form is true and correct.
I/we have attached copies of my/our last two tax returns.
I/we hereby give permission for Arts Tasmania and the Department of Economic Development to obtain
consumer or commercial information permitted by the Privacy Act from a credit reporting agency and to
use such information in order to assess my/our capacity to repay a Loan. The permission remains in
force for the duration of my/our approved Loan.
FREEDOM OF INFORMATION (FOI)
The provisions of the Freedom of Information Act 1991, as amended, apply to documents in the possession of Arts Tasmania.
Under some circumstances documents held by Arts Tasmania may be released subject to the deletion of exempt material in
response to a request made in accordance with the Act. Information on exempt material is available by phoning the FOI officer on
You must include this page with your application. Page 16
2009 Arts Tasmania Low Interest Loan Quote
Office Use Only
You must have an Arts Tasmania Program Officer complete this section before submitting your
application for assessment.
Purpose of Loan:
Quoted by: Date:
Repayments and Interest Charges:
The above Loan term has been calculated on the basis of the rules of the Tasmanian Arts Advisory Board which state that
principal must be repaid at a minimum $1,000 per annum, the term of the Loan cannot exceed 10 years, and Loan funds
will not be lent for a period greater than the useful life of the items being purchased.
The Interest Rate shown above is variable from time to time. Any amendments to the interest rate will be applied to the
very last Loan repayment. Should you cease working within the arts industry the interest rate will be varied to a commercial
rate of interest rather than the assisted rate charged to artists.
The initial monthly instalment will fall due on the 1st of the month following the Loan drawdown. Payment in full not
received by the specified due date on the respective monthly instalment notice will incur additional interest costs. Should
you leave Tasmania permanently, the Loan must be repaid in full including unpaid principal and outstanding interest.
Loans of $10,000 and over require security by way of a Bill of Sale and/or Guarantors. The costs associated with this
security (including, but not limited to, documentation fees and stamp duty) are the responsibility of the borrower. These
fees will be estimated by the Program Officer - such estimate does not represent a quote. Bills of Sale are required to be
re-registered every four years that there is a balance outstanding on the Loan at a cost of $72.60 statutory charges plus
$75.00 administration fee (increased annually by CPI in accordance with the Fees Units Act 1997).
I acknowledge that this quote is an estimate of monthly repayments and that final repayments and the length of the Loan may
vary upon advice from Economic Development during the assessment process or in line with interest rate changes from year to
You must include this page with your application. Page 17