Film Vic’s $7mil cash flow to seven productions
[Press Release by Solid Ink Communications]
Film Victoria’s renewed Cash Flow Facility is in full swing, supporting local productions with $7 million in loans against the Federal Government’s Producer Offset.
Seven productions have secured the loans to cash flow production of five feature films and two television documentary series:
– Ambience Concept Pty Ltd for The Loved Ones
– Princess Pictures Pty Ltd for I Love You Too
– Cascade Films Pty Ltd for Love and Mortar
– Renegade Films Pty Ltd for Prison Sings
– 360 Degree Films Pty Ltd for Penguin Island
– International Productions Services Pty Ltd for Red Dress, and
– Big and Little Films Pty Ltd for Lou.
Together, these productions will spend an estimated $19 million in Victoria and provide up to 500 job opportunities.
Film Victoria President, John Howie, elaborated on the news today, “With the introduction of the Producer Offset it’s crucial that productions can access loans if the industry is to maintain momentum in the production cycle. With a soft finance market, we believe our $15 million facility has an important role to play in providing this facility and cash flow assurance to Victorian projects.”
In October 2008 Film Victoria announced an expanded Cash Flow Facility to provide local producers with loans to cash flow the Producer Offset, while continuing to offer loans against distribution guarantees and television license fees.
Film Victoria encourages producers to visit www.film.vic.gov.au to stay up-to-date with forthcoming deadlines and review the program eligibility criteria and guidelines online.