CREATE Act of 2024

The CREATE Act of 2024 creates new support for artists and arts entrepreneurs by requiring the Small Business Administration to develop specific loan criteria for creative businesses under the microloan program and to evaluate business plans focused on the creative economy for standard loans. It mandates technical assistance programs tailored to artists’ needs through small business development centers and directs economic development agencies to fund arts-focused initiatives like business incubators and planning services. The bill also establishes a demonstration program to test how local governments can incorporate creative industries into their economic development strategies. These changes directly affect artists, arts entrepreneurs, and arts organizations seeking financial and technical resources.