The CREATE Act of 2024 is designed to help artists and creative professionals start and grow their businesses by giving them better access to government support and funding. Right now, many artists struggle to get loans and business help because traditional lenders and programs don't always understand the creative economy. This bill fixes that by requiring the Small Business Administration to create special loan programs tailored specifically for artists and creative businesses, with evaluation methods that make sense for how the arts industry actually works. It also requires the Department of Commerce to make sure existing government business support tools—like incubators that help startups grow and grant programs that fund new ventures—actively work with and support artists and creative entrepreneurs. Essentially, this bill recognizes that artists are business owners too and deserve the same access to government resources that other small business owners get, just adapted to fit how creative work actually functions.

CREATE Act of 2024

Dingell, Debbie

Comprehensive Resources for Entrepreneurs in the Arts to Transform the Economy Act of 2024 or the CREATE Act of 2024This bill expands financial assistance for, and establishes measures to support, the creative economy and art entrepreneurs.Specifically, the bill requires (1) the Small Business Administration to develop loan criteria, evaluation procedures, and technical assistance programs for small business concerns that are owned by artists and support the creative economy; and (2) the Department of Commerce to ensure that traditional economic development tools, such as business incubators and grant programs, support the arts industry and creative economy.