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Tag: Approval

U.K. Producers Await Insurance Scheme But It Still Needs E.U. Approval

October 1, 2020
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| insurance

The U.K.’s film and TV production restart scheme won’t be open to applications until it’s secured State Aid approval from the European Union — a process that’s still ongoing, with no clear end date in sight.

“I was hoping it would be several weeks ago, I hope it’s tomorrow, but I just don’t know,” John McVay, CEO of U.K. producers trade org Pact, told Variety on Thursday.

As the scheme remains in limbo, the European Union Commission is planning legal proceedings against the U.K. for breaching its obligations under the Withdrawal Agreement from the European Union. However, it’s unclear whether that initiative will impact the fund in any way.

The £500 million ($644 million) scheme is designed to help U.K. productions that have been suspended and aren’t able to secure insurance going forward, or are yet to shoot due to lack of insurance but can begin principal photography before the

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A Finance Approval Can Be a Moving Target

May 1, 2020
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| finance

Financing equipment in all markets is always a slightly moving target. Hard credit rules are constantly changing because underwriters and credit teams are pressured to make the right decision; their jobs depend on it. The squeeze on one end for lenders is to minimize bad debt by avoiding financing clients which end up in default. On the other end, lenders and investors need to make a profit and federal regulations require they approve a certain number of loans. The scenario is frustrating for both the customer and finance agent but we can confirm that investors are still lending and approvals are much higher than last year.

What are some common approval guidelines?

Complete financial disclosure is best for getting a quick decision. Knowing what your credit, assets, liabilities look like and how your company is performing will provide the underwriter a complete picture thus allowing them to offer the best … Read More

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