Sound Royalties is extending their $20 million no-cost funding program, originally scheduled to expire April 16, by 30 days to help relieve the financial burden caused by the public health response to the coronavirus. Here’s what you need to know.
Sound Royalties Extends Music Relief Funding Program
Now through May 16, songwriters, performing artists, producers and others, including independent labels, distributors and publishers receiving royalty income, can apply for financing on a one-year repayment schedule with no fees or costs of any kind.
The exact amount and terms of the no-cost advance option will depend upon the particular royalty payment history and royalty payor of the applicant.
- Offer valid for applications submitted by May 16, 2020
- Available for a one-year term up to $25k in funding
- Offer only valid for qualified applicants under their standard qualifying/underwriting guidelines
Keep in mind: Other funding options that extend beyond one-year are also available, free of any closing-fees. The best part? — Sound Royalties will never take ownership of your copyrights.
“The past month has been brutal for the music industry with so many event cancellations and payment delays. With this extension to apply for a no-cost advance, we will continue our efforts to ease some of the burden caused by this unprecedented interruption in business,” says Alex Heiche, CEO and founder of Sound Royalties.
To apply for an advance, click here.