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Innovation + Job News

Xavier's micro-loan concept amps Reivax Records

Reivax Records' local music showcase this Thursday will underscore the success and community outreach of Xavier University's micro-loan concept. Helmed by the University's Entrepreneurial Center, the loan concept kick-starts businesses organized by students no matter what major they're completing. Students are required to create a formal business plan and present to a committee, outlining how they would use the loan and pay it off.

Reivax is a music promotions and booking company comprised of five Xavier students that received a $10,000, interest-free loan from the Entrepreneurial Center, with funding provided by the Coleman Foundation. The Center approved the loan December 10, and now the company has one year to pay back the funding it uses.

Reivax's current roster includes Steve Boller, a music major; marketing interns Jason Furtick and Jake Huhn; graphic design intern Matt Kroeger, and interactive media intern Tom Moskal. They're receiving credit through the William's College of Business.

Boller, 21, formed Reivax two years ago. A singer-songwriter at heart, he started the company to promote student musicians and draw Xavier students to the local music scene.

"I realized that if I wanted it to grow and if I wanted to be sustainable after I graduated, I needed to get involved with the business school," says Boller. "They do so much, and really know how to get things done."

Business professor George Gordon advises the students.

"What I've really enjoyed are the overlaps within the community and Xavier that I keep running into. The community is giving to Xavier because it's providing an opportunity for students to learn a lot. I tell students not all learning happens in the classroom."

Furtick, 20, says the company might use half of the loan for shows and other promotions. "The rest is like a cushion." A fair amount of funds are going to the showcase Thursday at the 20th Century Theater in Oakley. Local indie bands Walk the Moon, The Seedy Seeds and Starfox play with The Pass from Louisville. Reivax is billing the showcase as "Red Shoes/Dance Pants."

"We're just encouraging people to come," Boller says, "and wear crazy pants."

Writer: Rich Shivener
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