NASHVILLE (CelebrityAccess) – US-based finance firm Sound Royalties, LLC has announced a new $20m fund from which music creators impacted by the COVID-19 outbreak can obtain a no-cost royalty advance funding option on every new application over the next 30 days or until the money is depleted.
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.
“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,” added Heiche.
In addition to the no-cost option, terms that extend beyond one year are also available.
Sound Royalties says it does not require royalty copyrights to be secured as collateral, and will never take possession of copyrights under any circumstance.
Applicants are qualified based on verifiable royalty income. For more information, visit www.soundroyalties.com, or call 888-987-3224.
Sound Royalties was founded in 2014 to “help music professionals flourish and sustain their careers without putting copyrights at risk.” The company has funded creative initiatives and worked with hundreds of musicians, including GRAMMY nominees and winners Rich Robinson, Pitbull, Makeba Riddick, Wyclef Jean, DJ Khaled, Malik Yusef, Lil Wayne and many others.