Frequently Asked Questions
Do I pay it back by splitting the revenue with you?
Yes, the artist pays the advance back by permitting us to retrieve their payouts from streaming services on their behalf.
How does the payment work for the advance and payback?
The amount of advance that an artist receives depends on the number of monthly streams across streaming platforms. They can also connect other income sources (for example, savings or checking accounts, PayPal) to increase the likelihood of the artist being approved for a micro-advance. The more revenue that is generated, the higher the chances of getting approved for a micro-advance. The micro-advance is repaid by permitting us to retrieve their payouts from streaming services on their behalf.
Can I use the funds to shoot a music video?
Yes, you can receive the advance from us to cover music videos which would be repaid through music streams.
Is there any interest rate charged on the repayments?
No interest rate is charged on the repayments as we are not a lender. There is a nominal 6% administration fee applied to the total amount of the micro-advance. For example, a $100 micro-advance would mean that we would recoup a total of $106 from the artist.
What's in for you? If you provide artists with the funds and repay them to you with no interest, how does your business gain anything?
Artists pay a nominal administration fee for the micro-advance, which is included in the micro-advance amount.
What other offers and resources do you provide?
We offer micro-advance to artists based on their streams on streaming platforms and YouTube. We also retrieve an artists revenue from streaming platforms and YouTube on behalf of artists, and either deposit the revenue in the artist's bank account or we hold the revenue in an escrow account on behalf of the artist so they can use it to make purchases (i.e., headphones, music equipment, hiring a sound engineer)
How long do I have to pay back the funds?
The artists will have repayment options of 1 month, three months, or six months.