Launch Financing Scales Short-Term Loans for Indie Productions
Launch Financing, a film finance specialist, will be expanding its gap loan services for the indie market domestically and in both Canada and the UK in the wake of a new institutional senior credit facility. Brandon Blake, entertainment lawyer at Blake & Wang P.A., shares the news. Brandon Blake Loan Expansion Launch Financing has already helped with more than 60 loans for smaller productions, offsetting the loan amount against committed production receivables such as tax credits and pre-sales. This new $15M senior credit facility, which will extend to $25M over time, will now be on offer through an agreement with Pier Asset Management, a specialty lender. Cash flow issues are common for smaller productions, with extende...