On an annual basis and prior to their new fiscal year (beginning April 1st), FACTOR and its Board of Director's meet with a select group of industry professionals and review all of the funding programs offered by FACTOR.
FACTOR President & CEO, Heather Ostertag says that there have been many changes to the 2009-2010 fiscal year applications, some of which have been the greatest changes in FACTOR's 27 year history. "The greatest change this year is the reinstatement of the Recoupment Dividend Program" says Ostertag. "A strategy by which half of the funds repaid to FACTOR (from a Sound Recording loan) in excess of $1000.00, can be "banked" or set aside for the recipient to put towards another FACTOR program. I like to look at it as rewarding success" says Ostertag, "It's a win/win situation."
Due to the changes being made all FACTOR applications have been suspended until April 1st, 2009.
We appologize for any inconvenience and encourage you to review all program changes to the 2009-2010 applications as posted on the "News & Events" page located on the left side of your screen.