MyBandStock gets micro loan, spreads coast to coast

Wednesday, September 29, 2010 | Source: Concentrate
MyBandStock plans to spread its reach to both coasts via a micro loan from the Ann Arbor SPARK-administered Michigan Microloan Fund Program.

The 2-year-old start-up focuses on connecting bands to their fans by selling shares in a band's album or giving fans a chance to get closer to the artists. The 6-person firm plans to use the micro loan, which is usually for about $50,000, to help pay for travel costs between Ann Arbor and the entertainment hubs on both coasts.

"We're back and forth from Michigan and Los Angeles and New York," says Drew Leahy, co-founder of MyBandStock. "That money is going to help us meet more potential clients."

The Ann Arbor-based firm recently opened an LA office and is signing clients in both New York and LA. The company plans to keep its headquarters and technology operations in Ann Arbor and make 2-3 hires over the next year.

Source: Drew Leahy, co-founder of MyBandStock
Writer: Jon Zemke
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