Want to buy art, but don’t have all the money? Now you can get an interest-free loan to buy local art – so you can take that piece you’ve had your eye on home now and pay for it later.

Art Money is a City-supported program from 10 Group that provides interest-free loans to buy artworks priced between $750 and $20,000 at participating galleries in Sydney. Your payments will be spread over 10 equal monthly payments, with an initial 10% deposit.

All you have to do is fill out an application for an in-principle approval and find your piece. You can do both either online or in the gallery. To buy, you need to head into the gallery with ID and a 10% deposit and the artwork is yours to take home!

Art Money aligns with the Creative City Cultural Policy and Action Plan, and it’s developed from one of the most popular recommendations from our community consultation. It’s based on successful loan programs in the UK, the Netherlands and Tasmania and aims to make buying art more affordable, help support local artists and galleries and make sure Australian art and culture is sustainable in the future.

Six months in and there are now 26 participating galleries in the inner city, this initiative is now a leading national provider offered in 100 galleries across Australia. Art Money has issued 120 loans so far, three quarters of which were for artworks valued between $750 and $5,000.

Find out more at artmoney.com.au.