A new financial guarantee from Kerry London Europe aims to open doors for independent filmmakers who have traditionally struggled to access cash-flow financing and therefore funding for their projects.
The Media Credit Guarantee has been unveiled by the independent insurance broker to coincide with the opening of the American Film Market. It says the financial guarantee is designed to make it easier for independent media creatives to secure cashflow offers for their production, especially being an international co-production. It’s offered exclusively by Kerry London Europe, which claims it is “the first financial guarantee of its kind tailored specifically to the film and media industry”.
The new product offers a guarantee to banks and other lenders, ensuring payments are made on time. If unforeseen circumstances such as insolvency prevent payments from distributors or incentives, the Media Credit Guarantee protects lenders from losses of up to £5 million per distributor or incentive contract.
“For too long, securing cash-flow financing for a film has been complicated for many talented independent producers in film, TV series and animation,” said Ansley Williams, Client Services Director at Kerry London Europe (pictured, above). “The American Film Market is the perfect launchpad to bring our innovative financial guarantee to the film industry, banks and financiers. The Media Credit Guarantee will have an incredibly positive impact and help to bring more films and animation from diverse, talented filmmakers to life by reducing time spent negotiating with lenders.”
Kerry London Europe is now accepting Media Credit Guarantee applications for film and media projects beginning in 2024.
Michael Burns
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