Information for loan recipients
If your application is successful, you will receive notification via email. The email may include the following attachments:
- A letter from the Minister for the Arts
- A letter from the Director of Arts Tasmania
- A loan agreement for you to sign
- A direct debit (DDR) form for you to complete
The loan agreement may include special conditions that must be met. You can provide information relating to special conditions to Arts Tasmania when you return the signed loan agreement.
Please return all required documents to Arts Tasmania within 21 days of receipt.
If we do not receive the signed documents within this time, the offer of loan will lapse without further notice. If you believe you will have difficulties in returning the documents within 21 days please contact Arts Tasmania as soon as possible.
Payment of loan funds will occur once all completed documents have been processed by Arts Tasmania and all conditions have been met. Payment of loan funds will occur by electronic funds transfer within 10 working days.
Receiving a loan does not commit Arts Tasmania to future funding.
If you would like to discuss your loan, please contact Arts Tasmania on 03 6165 6666.
Conditions of Loan
Loan recipients must agree to any conditions that are included in the loan agreement.
A special condition is often applied to loans of $10 000 or more is the requirement to provide security in the form of a guarantor.
A guarantee is made when a third party, the guarantor, agrees to pay back debt if the borrower can't or won't.
When a borrower falls behind with their repayments Arts Tasmania will send a written notice (a default notice) to both the borrower and the guarantor. If the borrower does nothing about the default notice then Arts Tasmania may initiate legal action to have the debt repaid. If this does not resolve the matter then Arts Tasmania can take legal action against the guarantor and they will have to repay the borrower's debt.
Your Direct Debit Authority will arrange for automatic deductions from your nominated bank account on the nominated day of each month.
An instalment notice will be posted to you at the beginning of each month. As your repayments will be made by Direct Debit, you may disregard the tear-off payment section at the foot of the notice unless you wish to make an additional repayment to your loan at a Service Tasmania outlet.
Please contact Amanda Spargo, Finance Officer, on 03 6165 5196 if you would like to change your nominated bank account, or make greater payment amounts.
Acknowledgement of funding
The Tasmanian State Government logo should be present on all material relating to funded projects, preceded by the words “Supported by”.
The logo can be downloaded from: www.arts.tas.gov.au/logos
Written credits should include the phrase: “This project was assisted through Arts Tasmania by the Minister for the Arts”.
Changing your budget
Arts Tasmania understands that circumstances can change and that you might need to make changes to your planned purchase.
You must always discuss a planned change with a program officer before it occurs and should not proceed with a change until you have received written approval from Arts Tasmania.
Acquitting your loan
All recipients are required to complete an acquittal report.
If you have an overdue or incomplete acquittal you will not be able to apply for further funding from Arts Tasmania.
The online acquittal form can be accessed here: https://artstasmania.smartygrants.com.au/acquit
Arts Tasmania may not accept acquittal reports that show significant unapproved changes to an activity or a purchase. In such cases you may be required to return funds to Arts Tasmania.
Please call Arts Tasmania on 03 6165 6666 if you require assistance.