Re: Getting funded by a record label
I advise getting some reading material about the business, there are lots of good books out there; as others have said, your understanding of the realities seems a little sketchy at the moment.
Remember that advance payments to artists come in different forms, most importantly recoupable and non-recoupable. If your band gets given a non-recoupable advance then it's happy days - that payment is essentially a grant which is not to be paid back. However, whether you get this kind of payment depends on your potential selling power.
Get good before worrying about advances.
Get some touring together before courting labels. They will want to see a strong fan base. Touring can be done on a shoe string, be prepared to sleep in vans though!