FUNDINGNET AND FILMCABBAGE
FundingNet is a privately owned and operated wealth lending program, operating since 2005. Since that time we have funded many billions of dollars in loans to select partners across various industries, including Real Estate Development, Technology, Infrastructure, Hotel and Resort Development, and a wide array of other business initiatives.
"FilmCabbage", the dedicated entertainment financing division of FundingNet, was created with the goal of helping film professionals achieve attainable, affordable funding options for their projects. We accomplish this by lending you our own private capital, and by fully mitigating risk for both parties.
Our acceptance rate for projects is considerably higher than most conventional lenders or venture capitalists because the funds that we make available to lend to you are a factor of the portion of the total budget that you've already raised. As long as there is a minimum of $1M USD already in place and ready to deploy into your project, we can provide a credit facility for your project for as much as 4x that amount.
noun - informal term for money
To Support the Ongoing Production of Films, by Betting on Your Success
HOW IT WORKS
FilmCabbage offers borrowers an industry leading interest rate - not only do we provide you with 4x the amount of your capital as a credit facility, but we do it at the very competitive rate of "LIBOR +2", based on the existing US 12-Month LIBOR rate. The current LIBOR rate is on the right side of the page linked here:
The crucial element of our loan process is that your money is never exposed to ANY risk whatsoever. In fact, your funds sit on the sidelines, either in your own bank account or 100% guaranteed at our cost, until all of our capital is first spent into the project. Your money will be the last money spent - we literally absorb the financial risk for you.
To apply for funding for your Entertainment Project, you will need to submit an application package. Prior to doing so, you should first contact us to discuss your project and review its business plan to make sure that it appears to be a good fit for our program. If it appears to be, we will provide you with all of the required documents that must be submitted to complete your application package.
Once your application package is submitted, we have our intake and risk assessment teams review all elements of the submission. If your project is accepted, within 2 weeks you will receive a Term Sheet that outlines all of the loan terms. Your receipt of our term sheet confirms that we're "in", and willing to fund your loan - as long as the loan terms are mutually agreed upon, and the process steps are followed from that point, your project is a go.
FilmCabbage loans do not require any additional corporate or personal guarantees - each loan is secured only by the actual project that our money is helping to create. You are not required to secure the loan with any additional personal or corporate assets
There are also never any up-front fees - any costs or fees associated with the loan are not due to be paid until AFTER you are receiving funding from us.
One of the most remarkable features of a FilmCabbage loan is that YOU decide how you wish to repay it, and the fact that you don't need to make that decision until after you have released your movie! You may want to repay it all at once in the waterfall, or perhaps pay it off in installments over time in the conventional sense. You might decide to negotiate a Debt/Equity 'Hybrid" arrangement - we consider all reasonable proposals!
TO QUALIFY FOR FUNDING:
To be eligible for funding, your project must fit the following criteria, in full:
Your project must have the production elements established. A fully developed business plan must already be in place. If you only have a script but no budget or production plan, you are not yet ready to be funded. Your project doesn't necessarily have to be ready to produce immediately, but it should be basically ready to go.
Minimum funds already raised. There must already be at least $1M USD ready to deploy into the project. As a requirement to qualify for our 4x funding multiples, those initial funds must sit idly on the sidelines throughout the drawdown of our loan, either in your own bank account or 100% guaranteed at OUR cost. Once all of our loan funds are fully disbursed to you, your initial funds will then be the last money spent into the project to complete it.
Timing. All FilmCabbage loans must be approved through banking compliance, a process that takes approximately 60 days. If you require funds immediately, and cannot wait for compliance confirmation, your project will not qualify. Additionally, our funds are released in traunches as they are consumed into the production, so it takes 8 to 12 months for them to be fully deployed. If you require all funds on day 1, we will not be able to assist you.
Please see our "Submission Steps" page for information on how to submit a project for financing, or contact us to have an initial assessment done for your project.