Film Vic announces new cash flow facility
[Press Release by Solid Ink Communications]
Marking a new era in producer funding, Film Victoria has announced a renewed Cash Flow Facility (CFF).
The $15 million revolving fund will provide the Victorian industry with cash flow options as they take advantage of the Federal Government’s Producer Offset in a volatile economic climate.
Through the renewed facility, Film Victoria will support local producers with loans to cash flow distribution guarantees, license fees and the Producer Offset.
Film Victoria CEO Sandra Sdraulig, confirmed the aim of renewing the facility was to better support the Victorian industry to maintain production in a changing environment.
“For the Producer Offset to succeed, it is essential that cash flow facilities are available to help create momentum in the production cycle. We want to support the Victorian industry to increase the number of projects moving through production and providing returns,” said Ms Sdraulig.
“In a commercial lending environment that has been constricted for some years and is now experiencing a downturn, it is imperative for the screen industry to drive confidence if it is to become more sustainable into the future,” Ms Sdraulig continued.
“We hope that through our renewed Cash Flow Facility we are positioning Victorian producers to take advantage of production opportunities available to them,” said Ms Sdraulig.
Film Victoria encourages producers to review the eligibility criteria and guidelines online at www.film.vic.gov.au