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How To Get Music Loans & Funding For Artists (Proven Methods)

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Written by Ramsey Brown.

Being an independent artist in today’s music industry is basically the equivalent to running your own business. If you are an upcoming musician, you should think of yourself as your own start-up company. There are a TON of costs that go into starting a business — and there are a ton of costs associated with being an emerging, independent musician. 

One of the toughest obstacles artists face when establishing their music careers is not having enough money to do so efficiently. If you really want to get your music out there, there are necessary costs that come with gaining exposure. 

Between paying for music equipment, marketing campaigns, promotional material, touring costs, production and recording fees, music videos, collaborations, etc. — expenses add up quickly. Yet these upfront costs are essential investments artists must make in order to launch their careers forward.

But how the heck does an artist pay for all of this and keep a roof over their head? It’s not uncommon for independent artists to have multiple jobs in order to pay the bills. However, it is extremely difficult to work multiple jobs and focus on a music career at the same time.

This is why many musicians obtain music loans and business funding in order to reach their professional goals. Finding music-related finance solutions isn’t always easy, but it is possible if you know where to look. 

If you are an independent artist swimming in debt or financial fear — we may have some resources to help you. In this article, we are going to show you how to get a music loan and where to apply for funding, so money doesn’t get in your way of pursuing your music dreams.

Where To Find Music Loans & Funding

If you are an independent artist swimming in debt or financial fear — we have some resources that may be able to help you. In this article, we are going to show you where to look for music loans and how to apply for funding. Don't let money get in your way of pursuing your music dreams, check out these proven methods below:

SBA Loans

SBA, or Small Business Association loans are one of the best resources for artists to get upfront, legit, and quick money to help fund their music careers and projects. As long as you have been in business for a few years, and have decent credit, the SBA can provide you funding assistance. 

The SBA even has a Community Advantage Loan for the Arts and Entertainment Industry specifically that provides working capital of up to $250,000 and up to an 85% loan guarantee for small businesses in the Arts and Entertainment Industry.

Artists, musicians, and others in the entertainment segment can easily apply for this loan and spend it on operating expenses such as equipment, ancillary costs, touring and live music performances, music creation, product development, refinancing existing debt, and more. 

To learn more and see if you are eligible for this loan, register your business here to begin getting funding today!


Crowdfunding is one of the best and most common methods for musicians looking to obtain financial backing. This solution is so popular because it allows artists to fund their projects without having to go to conventional lenders or government financiers. 

Fans can directly support their favorite artists by donating to them and their musical projects via crowdfunding websites. Many artists will also offer rewards or incentives to those that donate, making it a great way for artists to engage with their biggest fans and give thanks to their supporters.

There are many different websites artists can use for crowdfunding purposes. Below are some of the best and most used platforms today: 

Private Music Investors

Music industry investors are people who are very knowledgeable and personally invested in music. Depending on the age of your business, you may find different types of investors willing to assist you on your way to success. 

Finding music investors also starts by knowing what you want to do with their money. If you don’t understand why you need their money, they will not understand why they should give it to you. 

A simple way to find a potential investor is to look at the people around you. Depending on your business idea and needs, maybe your friends, family, or acquaintances could help provide you with sufficient funding. 

Before shaking hands with any investors, you should fully know who they are and what they want from you in return. Some investors may want a future stake in your music career or to be involved in important decision-making processes. 

Every detail and every expectation out of both you and the investor should be specified in a music investment contract. Only by having all of the details of your deal in writing, both you and your investor are protected.

Another way to find potential investors is through designated investor searching websites. These online forums are where investors go to seek investees and possible projects to fund. Check out some investment opportunity sites below and get signed up today: 

Record Label Advances

Often when an artist is getting ready to sign to a record label, they will be offered an advance, or an upfront lump sum of money as part of their contract. This money is meant to cover necessary costs such as recording, publishing, video production, touring, marketing and promotion, etc.

Advances for a newly signed artist can typically range anywhere from $50k to 2 million, depending on the label, the artist, and what the label believes they can recoup. 

Recoupment is an extremely important aspect of record label advances that all artists need to understand fully. Advances ARE NOT free money — record label advances must be paid back to the label in some form or another. This recoupment is usually taken in the artist’s future royalties. 

Many artists who are offered an advance see it as striking gold. But an advance is not a license to do and spend however you want. It’s best to think of your advance as a line of credit, which must eventually be paid off. In the best-case scenario, most artists aim to break even. This way they are not spending their entire years giving all of their royalties back to a label.

Advances can be either a blessing or a curse for musicians, depending on how smart you are with the funds. If you are in need of money to help get your music career off of the ground and a label has taken interest in you, accepting an advance may be the way to go. However, you need to understand the risks and weigh out all measures that come with it. 

You may want to ask yourself if gaining mainstream success is worth years of debt to a label? At the end of the day, when a record label offers you an advance, they are investing in you as an artist. And if you understand how investments work, you understand that it is not free money.

Recording contracts and advances are not your ticket to fame and fortune. You should view your advance as a loan or a line of credit —it’s basically money that you are borrowing from the label to help you concentrate on the creative aspect of your career. Hire an entertainment lawyer before agreeing to a recording contract commitment that could sink your career later down the road. 

Having The Right Approach...

As you now know, there are many different potential funding sources artists can acquire. There is also a unique approach you need to take to deal with each one. You won't get anywhere if you can't speak knowledgeably about your project and explain why exactly you need the money. 

The best way to secure a loan or investment is to write up a complete business plan. You want to always make sure that you are fully prepared for any questions or concerns a lender may have. Plus, majority of lenders require a business plan before they will offer funds anyway. 

For your business plan, you will need to crunch some numbers to determine exactly how much money you are needing and asking for. You will also need to outline how and where the money will be spent, what any other associated costs may be, how long it will take you to achieve your goal, and how long it will take you to pay back the money.

Wrapping Up 

There you have it — four extremely viable options to acquire money to fund your music career and achieve your goals. We understand it can be uncomfortable to ask for money, but when your dream is on the line, you may be surprised at how many people are willing to help support. 

Feel free to share this article with other artists that you know who may be in need of financial career assistance. Also, please comment below if you've used any of these funding methods, or if you've used funding methods not mentioned here that you recommend! 

When your song is ready to go, it's time to start promoting it to potential fans! Omari has the best organic promotion services money can buy. With packages for Spotify, TikTok, Instagram, and YouTube, we will get your music the traffic and attention it deserves! Click below for more information.  


    2 replies to "How To Get Music Loans & Funding For Artists (Proven Methods)"

    • Brian Boyar

      Hello, yes. Let’s get started!!

    • Odera vincent

      Vict is my name,i’m a ugandan artist,i have a great passion for music,how am i gonna get some help in here

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