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Follow on Google News |  Sisung Film Finance increases capital budget and expands film financing services nationwideSisung Film Finance increases capital budget to finance numerous states’ tax credit, grant-based programs, minimum guarantees on domestic distribution, and pre-sales on foreign sales agreements with eye toward expanding its production investments.
By: Sisung Film Finance 
Sisung Film Finance Vice President of Project Development, Paul Thomas Chastant III, Esq., CPA commented, “We are proud to expand Sisung Film Finance’s industry purview by building out both the size and the scope of financial services and liquidity that Sisung Film Finance is able to provide to the production community. Continuing to add to our network of producers, directors, distributors, and foreign sales agents over the course of the next few years, will enable Sisung Film Finance to include a number of additional projects, with budget classes ranging from $500,000 to $12,000,000, in its portfolio of collateral-based production loans.” The Company’s President, Mr. Lane Sisung, explained that the origins of Sisung Film Finance, a member of the Louisiana-based Sisung Group, lie in the Sisung Group’s experience with venture capital and the tremendous growth that Louisiana’s film production industry has experienced in recent years as a result of the state’s tax incentive program. Based on their success in utilizing tax incentive programs, the Sisung team began investigating the viability of leveraging some of the alternative Louisiana tax incentive programs as a path to creating a new line of business and continue the group’s mission of driving the financial growth of Louisiana’s and the United States’ economies. What we learned is that, while each film production is unique, their needs for capital remain the same. During the past decade, the film financing industry has witnessed a contraction in film financing by banks and other lending institutions. Moreover, while generous, the tax credits and other incentive programs offered by various states do not provide production companies with the front-end capital needed to undertake film projects, and many commercial banks will not consider unearned tax credits or incentives as a form of primary security. This significant lending reduction and inability of commercial banks to recognize unearned tax credits and incentives as security created an opportunity for the Sisung Group’s investment banking teams, as a non-depository bank lender, to participate in this burgeoning film financing industry. Sisung Film Finance now works with producers on projects canvasing a number of different state and foreign jurisdictions, including: Louisiana, New Mexico, Mississippi, Georgia, and Romania. “Our strength in servicing the burgeoning independent production community lies in the expertise of our team of dedicated film finance professionals and the partnerships that we form with our network of producers, directors, distributors, and foreign sales ages to assist them in achieving success. We have strived to cultivate an atmosphere at the firm, whereby our professionals take pride in establishing and maintaining close working relationships with our clients, and endeavor to add value on every transaction we participate in, by working toward the ultimate goal of helping those clients succeed” said Larry Sisung, the Sisung Group’s founder. ABOUT SISUNG FILM FINANCE Sisung Film Finance, is a member of the Louisiana-based Sisung Group, a licensed Louisiana Capital Company (“CAPCO”) and Business and Industrial Development Corporation (“BIDCO”). Sisung Film Finance provides tax credit and grant-based financing for motion picture production, as well as financing for minimum guarantees on domestic distribution agreements, and pre-sales on foreign sales agreements. http://www.sisung.com/ www.facebook.com/ www.twitter.com/ End
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