Frequently Asked Questions
What can I use your funding for?
The funding we help customers access can be used for any purpose. Most filmmakers use it to do things like purchase screenplays, pay legal fees, do budgets, create shooting schedules, cast name talent, create the documentation required to seek equity investment, etc. The funding is debt-based, not equity based, and it’s revolving credit you can use, repay, then use again.
We have a list of service providers some of our many customers have worked with in the past which will give you some idea of common applications for the funding we provide, but you really can use the funding for any purpose at all and you can work with any service providers you like.
How much does it cost to use your services?
Our services are free unless and until you receive financing through us. Our fee is based on a very small percentage of the total funding we help you acquire and it varies based on the kind of funding you receive.
Once you submit an application we can give you an update on how we can help you and what our fees will be. We can’t provide an estimate of costs before that because we don’t know what kind of funding you need, what position you and your company are in from a credit standpoint, or what uses you plan to put your financing to. Those factors determine the options available to you.
We are experts at business finance, support enterprises at every stage of their development, and work with hundreds of providers nationwide. The important thing to understand is you’ll pay us nothing unless and until we provide you with funding that meets your requirements on terms you find fair.
How long does it take you to provide funding?
We find funding for those we support in under 30 days as a rule. Our customer range from film producers who are in development on a project and need funds to attach key cast and crew, to those in active production or post-production, to those who need funds to support distribution and marketing efforts. We also support those who rent equipment and locations to the entertainment industry as well as those who sell services to producers, studios, etc. If we can’t realistically provide you with the funding you need in 30 days we won’t take you on as a client.
Do you provide funding for other kinds of businesses?
In addition to helping media producers, we support a wide variety of entrepreneurs in the entertainment industry, from distributors and equipment rental houses to catering trucks. Reach out to us if you need funding. If we can’t help you we’ll let you know right up front.
What do I need to submit?
We don’t need a business plan, a private placement memorandum, or anything else initially. We just need you to submit an application. We are helping you acquire business finance in the form of credit lines and corporate credit rather than secured loans or equity investment, so our documentation requirements are very limited and clearly defined.
I have really bad personal credit. Will you be able to help me?
A surprising number of business owners have bad credit due to the fallout surrounding the 2007/2008 financial crisis. One of the things we do is assess your personal credit, determine your credit rating, and figure out how to get you back on track. One of the most valuable services we provide is helping business owners separate personal credit histories from business credit histories. Trying to grow your business with your personal credit, or without any source of finance at all, significantly limits the size of projects you can take on and may even position you for failure.
What’s the difference between a “hard pull” and a “soft pull” when it comes to your credit rating?
When it comes to your credit rating, there are “Hard” Inquiries and “Soft” Inquiries. Hard inquiries occur only when “you are applying for more debt.” All other inquiries are soft inquiries, including inquiries you make when you use a service to run your own credit report.
The largest quantity of soft inquiries comes from current creditors performing routine checkups. The small print in the agreements you accept whenever you accept credit allow them to do this. Your creditors frequently pull your credit as part of their continued risk assessment. They do this so they can determine if they should offer you a credit limit increase, slap you with a credit limit decrease, or if things look really grim, just end your shopping spree altogether with a closed account. Soft inquiries do not impact your ability to get credit. A hard inquiry, on the other hand, is going to occur when you apply for anything from a credit card to a mortgage loan. It occurs whenever you ask to have your credit limit raised. Hard inquiries are noted on your credit report and can impact your ability to get credit.
“My experience working with Michael and the staff at FilmFundingLA has been amazing. Michael stepped me through a process to secure a line of credit and let me kick start two feature film projects at the same time.”
— Wain Bradley, Producer/Video Editor/Sound Designer at Haddie Motion Picture LLC
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