Beyond the loan: Schoolhouse Studios
About Schoolhouse Studios and Sefa
Schoolhouse Studios in Melbourne turns unused and overlooked buildings into affordable studios and shared spaces for artists, creative businesses and communities.
Sefa provided a loan that helped them build around 30 additional studios and communal facilities at its Coburg site, doubling its capacity.
Alongside finance, Sefa supported Schoolhouse Studios with financial modelling, its Theory of Change and impact measurement.
When Schoolhouse Studios moved to an old Coles building in Coburg, the opportunity was much bigger than anything it had taken on before.
Around 30 studios were already in place. Sefa’s loan funded the next 30, allowing Schoolhouse Studios to grow at once rather than saving up and adding studios gradually.
"We could hit the ground running in our new site and invite so many people in," says Director Bron Belcher. "We may never have built as many studios as we did if we had tried to build the funds incrementally."
From fit-out to forming a community
"The main feedback we get as the key thing that people really value about the studios is the connection to others and the organic things that come out of that," Bron says.
In 2024–25 Schoolhouse Studios recorded 116 residents, up from 84 the previous year, and 96% occupancy. Among residents surveyed, 90% made new social connections, 62% formed new business connections, 38% received work referrals and 50% generated additional income through opportunities at Schoolhouse Studios. And the organisation also welcomed 17,439 attendees across 139 events during the year.
One long-running resident is Open Table, which diverts surplus supermarket food and uses it for community lunches and cooking classes.
“They have converted the old Coles deli into their studio. They would be amazing without us, but we’re kind of a perfect partnership because we’re an old Coles with usable fridges and kitchen spaces.”
A lender that truly understood the model
For Bron, the experience of working with Sefa mattered as much as having access to the finance. Sefa took the time to understand the organisation, its capacity and the wider creative sector before deciding what level of debt was manageable.
"I felt very supported as an organisation that we weren’t borrowing outside of our reach," she says.
As interest rates rose, Bron was able to be transparent with Sefa about what the organisation could manage. "In every annual check-in I’ve been really surprised at how invested Sefa has been in our organisation and the changes we've seen. They’ve always been really focused on problem-solving and very generous with their time."
“It's been really important and really nice to have those rigorous catch ups that go far and beyond what a traditional financial institution like a bank would provide," she adds.
Bron says the regular conversations with Sefa have been particularly valuable as a first-time director working through changes in staff, Board members and the organisation itself.
Support that's still useful
When Bron took over as Director, the Sefa's Theory of Change work helped her understand the organisation’s strengths and informed her planning. Sefa also helped her establish a more useful approach to gathering data from residents.
Schoolhouse Studios now runs annual resident and exit surveys. As Bron’s role has shifted further into advocacy and stakeholder management, she says having that data has become "one of the most helpful tools" she could have put in place.
The stability of the Coburg hub also gave Schoolhouse Studios room to look beyond its original site. It has since opened two smaller locations, including 15 studios in Brunswick through a partnership with not-for-profit developer and Sefa client Nightingale Housing.
The commercial floor had sat empty for two years before Schoolhouse Studios moved into two of its 11 lots. Bron says having an established community there helped other people see the possibilities of the space.
“People were like, ‘Oh, Schoolhouse, there’s already people there. There’s already a community there!’ And it worked.”
Ready to make the next move
“Three years ago, we were in a position where we were not sure how to proceed and Sefa appeared as an opportunity,” Bron says. “Now, it feels much more like we’re in a realm where [impact finance is] something in our tool belt.”
Having now taken on and successfully repaid a loan, finance feels less daunting. Schoolhouse Studios has more financial knowledge, and the Board is better placed to understand what the organisation can manage.
“We know we can and we’re good for it,” Bron says.
That matters now as Schoolhouse Studios looks for its next home. With their tenancy ending next year in June, the organisation is looking for a more permanent home for their residents and community.
“We are facing one of the largest changes in our organisations 14-year history, but there’s so much hope for our future; being able to leverage what we have learnt and the supporters we have met along the way.”
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