Where do creators go to get financing? And who understands their business model?
LOS ANGELES, CA, UNITED STATES, July 29, 2021 /EINPresswire.com/ — Krush Groove is a 1985 American musical comedy-drama film based on the early days of Def Jam Recordings and up-and-coming record producer Russell Simmons, portrayed by Blair Underwood in his feature film debut.
DJ Parker, CEO of BoothLenders, says the movie still holds true for music industry creators today.
"The movie is about music industry creators, startup musicians, and startup labels looking for financing to take their music businesses to the next level. Russell Simmons and Rick Rubin needed money to sign talent to the label. Run D.M.C. had a hit song and was looking for the best record deal. Kurtis Blow, an established artist/producer is looking for financing. LL Cool J has amazing talent and is looking for a record deal. Beastie Boys, New Edition, and The Fat Boys are competing in talent shows. They are all looking for different types of financing. How is that any different from today? Where do creators go to get financing? And who understands their business model?”, says Parker.
DJ Parker is the Founder & CEO of BoothLenders, a fintech lender, providing music industry creators and small music businesses with debt financing.
“Today you have over 50 million music industry creators around the world looking for financing. In the movie (Krush Groove), when Russell and Rubin were unable to get a bank loan, Russell borrows money from a loan shark. These types of financial traps still exist for creators today.”
In addition to financial traps, major labels are the only financing companies in the music industry, record contracts have been unfavorable since the beginning, and traditional financing misunderstands creators.
“Most lenders lend to businesses they understand, right? And they usually specialize in an industry. At BoothLenders we specialize in the music industry. We understand the different businesses, business models, and the different types of financing needed across the landscape of the music industry. So for the 50 million music industry creators and small music businesses across the world, in need of financing, we are the solution they are looking for”, says Parker.
“When you talk to the customers they all need different things but their core desires are the same. They want a career financial partner. Not just in their music lives but their personal lives as well. Our tech looks at the big picture and maps out a career financing path for each individual. Everyone is unique and they all need a tailored solution. And that’s what we provide at BoothLenders”, DJ Parker.
Learn more about BoothLenders
Source: EIN Presswire