Those behind an interest free art loan scheme are hopeful it will encourage younger people into the art world.

My Art is modelled on similar formats being used in the UK and Australia, where people can apply for an interest free loan to purchase a piece of art between $1000 and $25,000.

Founder Glen Hawkins told Jack Tame it helps young people tip their toes in the art world.

"You've got to start somewhere, and a lot of people can pay off something rather than save up for something, so it's a way to get new people into starting a collection."

My Art makes a profit getting a slight discount from the gallery who supplies the art work.