The Foundation to Assist Canadian Talent on Recordings

NEW Program Changes for Sound Recording Programs

The following are changes made to FACTOR's Sound Recording Loan Programs;

Demo Award

• FACTOR will recognize a maximum of $150.00 as an administration fee. 

Independent Loan and FACTOR Loan (Juried Sound Recordings)

• Reinstatement of FACTOR's Recoupment Dividend Program.
• Using the MAPL guidelines (Music, Artist, Production, Lyrics), currently, FACTOR requires that 50% of the music to be recorded must be 100% Canadian. That will be changed to match CANCON requirements which is that 100% of the material to be recorded must be 50% Canadian. However, the Artist and Production must always be Canadian.
• FACTOR will contribute up to 75% of the total eligible budget as opposed to the current 50%.
• FACTOR will recognize a maximum of $1500.00 as an administration fee.
• Should the application be approved for funding, FACTOR will recognize pre-production costs incurred up to three months prior to the date of receipt of application at FACTOR. Pre-production costs should not exceed 25% of the total eligible budget.

Direct Board Approval Sound Recording Loans

• FACTOR Board of Director's have created a committee to review the current sales plateaus to qualify for Direct Board Approval funding.
• FACTOR will recognize a maximum of $1500.00 as an administration fee.

Emerging Artist Sound Recording Loan

• It was apparent during the review for this program that the industry believed that because they met the qualifying sales criteria, they were automatically approved for funding. This is not the case and FACTOR will more clearly state that the qualifying criteria (as stated on the application) only makes one eligible to apply for funding.
• Further explanation of the Board assessment process will be included in the application form for this program.
• Eligible funding for this program has been increased from $35,000.00 to $50,000.00.
• FACTOR will recognize a maximum of $1500.00 as an administration fee.