Company Profiles & Ratings
As a Company applying to factor, there are two profiles you will need
In order to submit an application for funding as a music company, you will need to create a User Profile to use the online system. Then, depending on the type of music company you are, you will need an Applicant Profile which outlines your company’s information.
Your Applicant Profile provides the information required to assess your applicant rating within FACTOR’s applicant rating system.
The user profile is the core profile to access the FACTOR system. Every individual who will access the FACTOR online system requires a user profile – you only need one, and you should be the only person who uses this profile.
The applicant profile contains information on yourself or your company. It is used to apply for and accept funding if your application is successful. Remember that the individual, partnership, or corporation named in your applicant profile will be legally and financially responsible for any project that is funded by FACTOR, including any tax implications.
Company Applicant Ratings
Artist managers, distributors, publishers and record labels can be eligible for FACTOR funding for their business, based on the information provided in the Qualifying Criteria. Once they have submitted their profile for rating using the request review button on the landing page, FACTOR staff review the information provided.
Providing financial documentation is a requirement for entry to FACTOR’s company programs. Financial statements (as defined in FACTOR’s Business Policies) must be provided by incorporated companies in order to qualify for a rating higher than Approved. See the individual program guidelines for more detail.
All Eligible Music Companies (SEMC companies with an existing music company rating of 2, 3 or 4) must update their Qualifying Criteria every year prior to the annual review deadline at fiscal year end. This includes:
- any changes to the company;
- qualifying criteria, including roster and release information, as applicable; and
- gross revenue information (to be updated no later than six months following the company’s year end)
Those companies may receive an improved, reduced or unchanged company rating, depending on the information submitted. Eligible Music Companies that do not update and re-submit their updated profiles before the deadline may lose their company rating altogether.
A by-request mid-year review will occur at end of August. Companies with an existing company rating of Approved or 2 may request an increased company rating of 2 or 3 if recent business activity would merit the higher rating. Log in to the client portal, update your Applicant profile, and click ‘request higher rating review.’ FACTOR staff assess those Applicant profiles with updated data and results of the reviews are communicated to profile administrators