In February of this year there was a major announcement across all worldwide news platforms that G4S Secure Solutions was selling the majority of its “cash operations” to The Brink's Company.  COVID-19 hit right on the heels of that announcement, and the actual changeover has been a bit slow coming. However as of August 31, 2020 it has become more official, and will generate a minor change in FundingNet operations moving forward.

From this point onward, we will not be offering G4S SKRs (safekeeping receipts) as the security for our clients entering our 80:20 program; moving forward it will only offer SKRs from Brinks, Malca-Amit or Ferrari Group. This will also be the case with our "Asset Backed" program - G4S SKRs will no longer be offered, in most cases it will be SKRs from Brinks, and for certain transactions from Malca Amit and Ferrari Group.

This will have no effect on the strength of the security offered to clients; it simply means that G4S is extricating itself from that end of their business. The responsibility for the vaulting of our gold holdings will be transferred to The Brink's Company, and they will issue the safekeeping receipts that pledge those particular assets instead of G4S.

FundingNet's traditional 80:20 program continues to experience COVID-related slowdowns in processing of deals; however we are still accepting new applications at this time. Our Asset Backed Line of Credit program continues to operate at full efficiency.

Related article for the sale of these G4S operations from to Brinks:

Since introducing our "Asset Backed Credit Line" program, there has been tremendous interest from clients interested in utilizing it. However, one issue that clients are running into when trying to put the offering together with their bank is the bank's ability to confirm the gold bullion being used to underwrite the credit line.

The simplest methods of pledging our bullion to the bank to underwrite a credit line are (a) a SafeKeeping Receipt (SKR) from G4S, or (b) a Letter of Credit. There are a couple of elements to consider for both of these options, that we have continued to refine to make it easier for banks to confirm the gold assets pledged.

If the bank decides they prefer to use a SKR, one of the common issues is that they need to have confirmation of the gold from another bank (rather than only from G4S). We have now made that a simple process - if the bank requires such a confirmation it will be provided to them by JP Morgan in London, via a SWIFT199 communication. JP Morgan will confirm our holdings with G4S to the credit-issuing bank, and that those holdings are unencumbered and in "Good-Standing". Since JP Morgan is one of the two largest banks (along with HSBC) in the western world, this confirmation should satisfy any banking group's due diligence requirements.

If they prefer a Letter of Credit, we have set the process up so that they will tell us which Italian Bank they prefer to receive the Letter of Credit from. The vast majority of banks have affiliate international banking relationships, so we will pledge the gold to whichever Italian bank they are affiliated with, and that affiliate bank will issue the Letter of Credit. For banks that have no affiliate in Italy, we would arrange to issue the Letter of Credit from UniCredit, which is the largest bank in Italy, and the LC would be transferred and confirmed via bank-to-bank SWIFT communication.

IMPORTANT NOTE ** It is necessary that the Letter of Credit come from an Italian bank because the gold bullion we will be pledging to generate the Letter of Credit is vaulted with the Italian Central Bank. The only banks that can communicate directly with the Italian Central Bank are other central banks, OR banks within their banking jurisdiction (in other words, Italian Banks). By pledging our bullion to the affiliate bank in Italy, that affiliate can easily confirm it with the Central Bank, and then issue the Letter of Credit to the bank that will use it to underwrite the credit line.

FundingNet continues to refine this offering to always try to make it as easy as possible for client banks to work with us in setting up financing for our client projects. Go to our "Contact" page to get in touch and get started funding your projects today!

The traditional FundingNet program was one of the most exciting programs available for low risk funding of films - all you needed was to have 20% of the costs already raised and we would be able to provide the remaining balance of the budget.

But not all clients have the ability to raise that 20%. Since this is causing so many fantastic projects to remain unrealized, FundingNet and FilmCabbage now announce our most exiting funding program to date: The "Asset Backed Bank Credit Line Program".

This program makes it possible for you to receive 100% funding, with your project/budget fully underwritten by us, and offer absolutely no risk to you. In addition, funds become available much more quickly than through our traditional program, and there is no 60 day banking compliance process to wait through.

Did I mention that you don't have to bring a single dollar to the table yourself?

I know, I know, I know.... "If I don't need to bring any money, and you make it possible to receive the funds for the full budget, and you underwrite the whole thing, and I have no risk... there's no way it will work. It's just too good to be true."

Well it's not too good to be true. It's just true. All you will need to be able to provide is a banking relationship with a bank that will work with us to set up a credit line. Using this program FundingNet will work YOUR bank to set up a dedicated credit line to fund your project, by underwriting it in full with FundingNet assets. This will be set up to have more than enough available credit to fully fund your project, and always guarantee both you AND YOUR BANK a zero risk position.

All you need to make it work is a bank that will accept our underwriting of the credit line with our own assets. This will be done either through a bank-to-bank issued Letter of Credit (fully confirmed by both banks, backed in full by our assets), an Asset Pledge of gold bullion, or a SKR (safekeeping receipt) from a Brinks or G4S facility where we have gold vaulted, declaring your bank as the SKR beneficiary.

While that last paragraph sounds a bit challenging, any mid-level banking executive (or higher) will understand the process, especially regarding a SKR or a bank-to-bank Letter of Credit. They will be able to confirm the security of their preferred collateral via any level of due diligence they require. Since they decide and will receive any level of confirmation they need, they'll always be certain their principal is completely guaranteed at all times.

Need more information? See the "Asset Back Bank Credit Line Program" page on our site.

We believe this is the easiest, most risk-free program ever offered to the film industry. No cost... no risk... full funding...

What can you possibly be waiting for?

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