More musicians will be able to spread the cost of instruments and equipment through interest-free finance as Creative United announces a new credit provider for the Take it away scheme.
From 1 November, Novuna will provide the finance behind Take it away, with new terms designed to make it easier for smaller independent music retailers to join the scheme and offer interest-free finance to their customers.
Run by social enterprise Creative United and backed by funding from Arts Council England and the Arts Council of Northern Ireland, the scheme has unlocked musical experiences for almost 100,000 people since its launch in 2007.
It also supports more than 100 independent music retailers across England and Northern Ireland and has helped generate more than £73 million in sales.
For customers, the principle is simple, rather than paying the full cost of an instrument upfront, Take it away allows them to spread the cost through a 0% interest loan.
All participating retailers can offer nine months’ interest-free finance on purchases between £100 and £2,500, while retailers with the appropriate FCA authorisation can offer additional options over longer periods.
Under the new partnership, Take it away will be able to expand its network of independent music shops with more accessible terms for participating retailers.
Novuna’s technology can also tailor finance options to an applicant’s circumstances where appropriate, helping more customers find a payment option that is affordable for them.
The partnership builds on Creative United’s long-standing relationship with Novuna who provide the finance behind Own Art, the scheme that helps people spread the cost of buying contemporary art while supporting galleries and artists.
Creative United Chief Executive Mary-Alice Stack said:
“Everyone deserves to make music. Through Take it away we’re not just helping people gain access to musical instruments. We’re also recognising and supporting the valuable role of high street music shops in providing the specialist knowledge and support that people need to continue their development as musicians, whether on a professional or amateur basis.
“We’re delighted to be building on the strength of our long-standing partnership with Novuna as we move forward with our plans to expand and diversify our network of member retailers across England and Northern Ireland.”
Brian Flesk, Head of Retail at Novuna Consumer Finance said:
“We’re delighted to have been appointed as the credit provider for Take it away and to build on our long-standing relationship with Creative United.
“Music can play such an important part in people’s lives, whether that’s a child picking up their first instrument, to someone returning to music after many years. Take it away is a great example of how accessible finance can help make those moments possible, while also supporting the independent music retailers that provide the expertise, encouragement and advice musicians rely on.
“By introducing new finance options and terms designed to support the scheme’s growth, we’re looking forward to helping more retailers take part and giving more people the opportunity to make music.”
Welcoming the news, Adam Clifford from Take it away Member Retailer Just Flutes in Croydon said:
“We’ve been with Take it away since launch. It’s fantastic and a really important part of what we do. It makes owning an instrument accessible for people who wouldn’t otherwise be able to afford it, whether that’s the first purchase or an upgrade. The scheme has had a very positive effect on sales too and the new competitive rates are a gamechanger.”
Customer Jacqueline Ready said:
“The Take it away scheme was a great help to me as a single parent with two musical kids.”
Musician Billy Thompson added:
“The Take it away scheme meant I could buy and be out gigging again on the same day. The payment scheme is excellent and I would highly recommend it.”
Take it away is funded by Arts Council England and the Arts Council of Northern Ireland to make music more affordable and accessible. It is operated by Creative United, a Community Interest Company with a mission to support creative livelihoods.
