Sound Royalties announced today that the company is dedicating $20 million to assist music creators impacted by coronavirus by offering a no-cost royalty advance funding option on every new application over the next 30 days. Through April 16, songwriters, performing artists, producers and others with royalty income can apply for cash advances on a one-year repayment schedule with no fees or costs of any kind.
“From national tours to local clubs, the live music industry has been blindsided by Coronavirus, and the impact on creatives who depend on this income and the music industry as a whole will be significant,” said Alex Heiche, Sound Royalties founder and CEO. “We stand with the creative community and hope to ease some of the burden caused by this unprecedented interruption in business.”
Sound Royalties does not require royalty copyrights to be secured as collateral, and never takes possession of copyrights under any circumstance. In addition to the no-cost option, terms that extend beyond one year are also available. Applicants are qualified based on verifiable royalty income.
“Each new application for the next 30 days will be offered this no-cost funding option that provides critical financing and cash flow as we navigate through this temporary situation,” said Heiche.
For more information, please visit www.soundroyalties.com, or call 888-987-3224. The zero interest, one-year funding option is scheduled to be available for applications submitted by April 16, 2020, or until the $20 million fund is depleted.