Carol Coletta, Director, ArtPlace writes for the NEA's Art Works blog:
ArtPlace will also be supported by a $12 million loan fund capitalized by six major financial institutions and managed by the Nonprofit Finance Fund. Participating institutions are Bank of America, Chase, Citi, Deutsche Bank, MetLife and Morgan Stanley. To some, the timing of ArtPlace may seem counterintuitive. More money for art and design in a challenged economy?