London's writers and small publishers will be eligible to apply to a new loan scheme from Arts Council England.
The Creative Industry Finance programme offers loans from £5,000 to £25,000, repayable at an APR of 10%, to small and medium-sized enterprises within the cultural and creative industries in London, including artists, writers, performers, producers and publishers.
The loan scheme is being run as a one-year pilot, with ACE saying it envisaged that the loans "will be most useful in providing financial support where businesses have been unable to obtain funding elsewhere".
The programme will also offer practical advice and support on developing businesses as a commercial enterprise.
ACE chief executive Alan Davey said: "Our investment will enable new business models to be explored, innovative ideas to fly and it will develop the skills of the next generation of business leaders and cultural practitioners, who will have a key role to play at the heart of economic growth."