Launch Financing To Expand Short-Term Indie Film Lending On Back Of New $15M Senior Credit Facility
Launch Financing has secured its first institutional credit facility, a $15 million agreement that will expand short-term lending to independent film productions in the US, Canada and the UK. The facility is significant because it gives the company more capacity to cover production costs while expected funding, such as tax credits or distributor payments, is still pending.
Specialty lender Pier Asset Management provided the senior credit facility, which could grow to $25 million. Launch says it has funded more than 60 media loans; its advances are secured against committed production receipts and typically run for eight to 26 weeks. The company says its standardised process can clear diligence in two to five business days and provide funds within 48 hours of signing.
- Launch Financing secured a $15 million credit facility.
- The funding supports short-term loans for indie film productions.
- The facility could expand to $25 million.
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Independent films are often financed from several sources, including public tax credits and payments from distributors. These funds may be promised but arrive only after production costs are due, leaving producers needing short-term cash to keep a project moving.
Launch Financing lends to film productions in the US, Canada and the UK, with advances secured against expected production receipts. Pier Asset Management, a specialist lender, has provided Launch with a credit facility that gives it money to lend; the agreement may increase in size. Short-term lending can help bridge gaps in production budgets, while the loans depend on the expected receipts being paid.