A ‘bank for theatre companies’ which issues interest-free loans to artists has launched in the UK.

London’s New Diorama Theatre (NDT) has launched the Cash Flow Fund as part of their new artist development scheme.

They will offer loans of up to £4,000 to small theatre companies to help launch their new work.

David Byrne, the artistic director of NDT, said: “Our Cash Flow Fund has already unlocked a huge amount of potential.

“I’m hoping the success of the fund, coupled with the enthusiasm with which artists have responded to this very simple idea, will see venues across the country adopt this idea for themselves and their supported theatre companies.”

Comedy troupe Kill the Beast are one company that have already benefited from using this new scheme, with the £4,000 loan helping them produce He Had Hairy Hands.

That production has since won a number of awards, and gained Arts Council England funding towards a national tour.

Byrne continued: “We’re the creative industries. It’s about time we actually got creative and found new, meaningful ways of making things happen for talented people just starting out.

“These are bleak times for many artists, venues and organisations but let’s use our imaginations – it’s what we do best.”

“The next generation of theatre-makers are already punching about their weight – they’re our future and right now they do really need our help.”

“It’s our responsibility to make sure they survive, and we need to do everything we can.”

NDT are also offering the 100/0 box office split in favour of the theatre companies as part of this new development scheme, as well as working with A Younger Theatre to produce Incoming Festival, which offers reduced ticket prices to encourage new audiences.

New Diorama Theatre have launched their new Cash Flow Fund scheme, described as a ‘bank for theatre companies. For more information, click here.