NFF Bridge Loan Helps Performing Arts Center Avoid Delay to Season Opening

Since 1935, The Mann Center for the Performing Arts has been presenting diverse, world-class entertainment to the Philadelphia community in a beautiful park setting at affordable prices. As part of its Access to the Arts program, 50,000 complimentary admissions are made available through 350 local community service and charitable organizations. In 2007, The Mann Center received government contracts for both capital and operating purposes. In the normal course of events, grants are contracted and payments are made on schedule by the government. However, two years later, The Mann Center had not yet been reimbursed for the contracts. This payment delay created liquidity problems for The Mann Center, which, in 2009, threatened to impact the season opening. NFF expedited a bridge loan in 2009 against the government receivables, turning around the request within seven days. This allowed the Mann Center to pay their contractors and begin their season on time.