Ecuadorian-born artist Alex Alvear maxed out his credit card the last time his Boston-based band, Mango Blue, produced a CD. Without a record deal or label to back them up, band members know that producing and promoting their music is a challenge. And financing for music production is even more challenging in an era of music file downloading and reduced commissions from record companies.
Mango Blue
But the band has developed quite a following over the years. This time, instead of using high interest credit cards, the band is turning to their fans and using a new approach based on the “micro-lending” model of financing.
Contributor Claes Andreasson reports.
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