FACTOR funding for the sound recording industry
Highlights
This program is designed specifically for businesses like yours in the music industry. It offers a range of funding options to support various activities, from recording and touring to marketing and video production. You can receive up to $5,000 for artist development, which can be used for recording, touring, showcasing, video production, and marketing. This financial support can significantly boost your business's growth and visibility.
What You Get:
- Up to $5,000 for artist development
- Funding for business development activities
- Support for domestic and international business travel
- Subsidies for live performances and showcases
Why This Program Stands Out:
- Government-backed funding ensures reliability and trust.
- Flexible use of funds tailored to your specific needs.
- Easy qualification process designed for eligible music companies.
By being approved for this program, you can enhance your business operations, expand your reach, and increase your commercial potential. The application process is straightforward, making it easier for you to access the support you need.
Financing Details
Type of Financing: Subsidy
Repayment Terms and Interest Rates:
- This is a subsidy, so there are no repayment terms or interest rates.
Eligible Expenses:
- Recording
- Touring and showcasing
- Video production
- Marketing
Ineligible Expenses:
- Funds cannot be used for personal expenses.
- Funds cannot be used for activities not directly related to artist development.
Fees:
- There are no fees associated with this subsidy program.
Qualifications
- Must be a Canadian music company.
- Must be involved in artist development, music production, or music promotion.
- Must be rated as a Record Label 2, Record Label 3, Music Distributor 2 or 3, Music Publisher 2 or 3, or other approved categories.
- Must have a valid business profile with FACTOR.
Must be able to demonstrate commercial potential or a clear funding strategy.
Disqualifications:
- Businesses not involved in the music industry.
- Businesses without a valid business profile with FACTOR.
- Businesses unable to demonstrate commercial potential or a clear funding strategy.
Description
This program offers your business a $5,000 subsidy for a year of artist development activities. You can use this money for recording, touring, showcasing, video production, and marketing.
This funding is designed to help you grow your business and promote your music. It covers a wide range of activities, making it easier for you to focus on what you do best—creating and sharing your music.
With this program, you get financial support without the need to pay it back. This means you can invest in your business with less financial stress, allowing you to take your music career to the next level.
Program Steps
Create an Online Profile:
- Visit the FACTOR website and create an online profile for your business.
Select the Appropriate Program:
- Choose the program that best fits your business needs from the available options.
Prepare Required Documentation:
- Gather the necessary documents for your application. These may include:
- Business plan
- Financial statements
- Marketing plan
- Project budget
- Proof of business registration
- Artist or company biography
- Previous work samples
- Gather the necessary documents for your application. These may include:
Complete the Application Form:
- Fill out the application form for the selected program. Ensure all sections are completed accurately.
Upload Supporting Documents:
- Upload the prepared documentation to your online profile as part of your application.
Review and Submit Application:
- Review your application to ensure all information is correct and complete. Submit the application through the FACTOR online portal.
Monitor Application Status:
- Log in to your FACTOR profile regularly to check the status of your application and respond to any additional requests for information.
