The US Bank Loan Program for BMI Affiliates

Because service to our songwriters, composers and music publishers has always been a top priority at BMI, it is our pleasure to announce that we have established a relationship with U.S. Bank, one of the country's largest financial institutions, to offer loans to BMI songwriters and composers and sole owners of BMI publishing companies. While we have for many years worked with a variety of banks chosen by our affiliates to secure loans against future royalty income, our new relationship with U.S. Bank offers our writers, composers, and many publishers the convenience of dealing with an institution serving customers through more than 2200 banking centers and 5200 ATMs in 24 states.

The BMI/US Bank Loan Program we've developed entitles you to US Bank's FIVE STAR SERVICE GUARANTEE, preferred rates, priority handling by BMI of your royalty assignment and easy access to a team of professionals who understand who you are and are ready to respond to your needs. You can apply by simply calling the toll-free number listed below or by faxing or mailing the completed application that can be downloaded from the bottom of this page.

Eligibility Requirements

The program is open to songwriters, composers, and owners of solely-owned publishing companies, located anywhere in the United States, whose BMI royalty earnings have exceeded $3000 annually for the last two consecutive years and who are affiliated with BMI at the time that the loan application is submitted to US Bank.

Loan Program Rules

• Application must be completed and signed
• A copy of a suitable identification document for applicant must be provided to US Bank
• Minimum loan amount is $5,000
• All loans will be charged a $150 processing fee
• Loan amount cannot exceed 90% of BMI revenue estimates for the following 24-month period
• Loans subject to credit approval
• Final eligibility for all loans rests solely with US Bank
• US Bank will take a first position assignment of and file a security interest in all of applicant's future BMI royalty income until loan is repaid
• On loans over $50,000 US Bank will obtain from BMI a list of songs registered for the applicant with BMI and will require more detailed financial information from the applicant, including, but not limited to, a properly completed and current Personal Financial Statement and two years of federal tax returns
• Approval may take longer on loans above $200,000
• The term of program loans will be 8 quarters (two years) with quarterly principal and interest payments due to match disbursement dates from BMI. Rates will be on a sliding scale as follows:

The "Prime Rate" is the fluctuating rate of interest established by US Bank from time to time at its discretion, whether or not such rate shall be otherwise published, and may or may not at any given time be the best or lowest rate charged by US Bank on any loan. Rates are subject to change.

Credit Criteria

• Applicant must not have had any previous bankruptcy filings
• Existing tax and judgment liens must be satisfied or a payment plan established before loan is approved (Applicant must provide verification to US Bank)
• Any existing US Bank loan must be repaid to at least 60% of the original amount borrowed or within 4 quarters in order for borrower to apply for a new loan prior to full repayment
• Other conditions may apply

US Bank
Entertainment/Music Division
1711 Broadway
Nashville, TN 37203

(866)-295-4543
(615) 254-4385
Fax (615) 254-9660

BMI represents more than 400,000 songwriters, composers, and publishers with more than 6.5 million works.

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