Launch Financing has secured its first institutional $15 million senior credit facility, with room to grow to $25 million, to expand short-term lending for independent films in the US, Canada and the UK.
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01Summary
- 01Beverly Hills-based Launch Financing has funded more than 60 media loans against tax credits, pre-sales and other committed production receivables.
- 02The new $15 million senior credit facility was provided by specialty lender Pier Asset Management.
- 03The facility is Launch Financing’s first institutional warehouse facility and is extendable to $25 million over time.
- 04Loans run eight to 26 weeks and are secured against incentives, minimum guarantees, pre-sales, committed equity, institutional capital and library-backed corporate guarantees.
- 05The company says the money can cover cashflow, cast escrow, union deposits, payroll and finishing funds while larger financing closes.
02Why it matters
The deal gives Launch Financing more capacity to support independent film productions while they wait for slower-moving money to arrive. That can help projects keep shooting and bridge short-term gaps in financing.
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