Finance
Industry-first Financial Guarantee Launches to Enable Confident Funding for Creative Projects
Published : 12 months ago, on
Industry-first Financial Guarantee Launches to Enable Confident Funding for Creative Projects
Media Credit Guarantee from Kerry London Europe provides a financial guarantee to bring more independent films, tv series and animations to life
(London, United Kingdom), Tuesday, 31st October 2023: A brand new financial guarantee, designed exclusively for the film and media industry, will finally provide lenders across the globe with financial security when funding independent productions.
The Media Credit Guarantee is launched today by Kerry London Europe to coincide with the American Film Market. This unique financial guarantee is designed to make it easier for banks and other lenders to confidently offer funding to independent producers of film, tv series and animation.
Importantly, it’s the first product of its kind tailored specifically to the film and media industry and is offered exclusively by Kerry London Europe.
The new product offers a guarantee to banks and other lenders, ensuring contractual payments are made on time. If unforeseen circumstances such as insolvency prevent payments from distributors or incentives, the Media Credit Guarantee protects lenders from losses of up to £5 million per distributor or incentive contract.
“The American Film Market is the perfect springboard to launch our industry-first Media Credit Guarantee to the global film industry, banks and financiers,” explains Ansley Williams, Client Services Director at Kerry London Europe. “This guarantee will have an incredibly positive impact, bringing more productions to life with minimal negotiations with lenders.”
Independent film productions, particularly those with foreign distribution deals or no well-known talent attached, have previously been considered high-risk investments and ‘indie’ producers or production companies often lack the collateral needed to reassure lenders. The Media Credit Guarantee removes these barriers, enabling lenders to invest confidently in creative projects.
Kerry London Europe is now accepting Media Credit Guarantee applications for film and media projects. For more information visit our website.
About Kerry London Europe
Kerry London Europe, a trading style of Kerry London Limited, has a suite of flexible solutions for the Film, Media and TV Production industry. Our team has specialist knowledge and the market insight to deliver solutions for each unique film and media project. They will identify any risks, provide insight on any emerging concerns, and organise cover accordingly.
As a leading, independent insurance broker, Kerry London has access to the international film and media insurance market, including niche markets and schemes in Lloyd’s of London and beyond. Kerry London is an accredited Lloyd’s broker, so the solutions and products we recommend are comprehensive and have been designed with the film and media industry in mind.
About Media Credit Guarantee
The Media Credit Guarantee covers feature films, TV series, documentaries, and animation. It typically covers the defaulted payments from:
- Trade partners, such as distributors and broadcasters
- Funding partners, such as tax incentives, tax credits or public subsidies
The Media Credit Guarantee accelerates lending decisions towards film producers and alleviates risks such as distributor liquidity and unexpected events that delay payment of minimum guarantees or incentives.
