Forbes: Why Rootfire Cooperative Is Giving Out Microloans To Reggae Musicians
When The Movement’s managers at Rootfire first approached the band with the concept of a no-interest, one-year loan so they could pay to recording and release of a new album, lead singer Josh Swain was initially skeptical.
“Why would someone give an interest-free loan?” Swain said.
His band previously balked at label deals where third parties would take a cut. But Rootfire, an artist management company they already worked with, was offering to help The Movement in a way that wouldn’t see the band lose future drops of profit. [Read More]