Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), announced today that its Entertainment Industries Division (EID) has provided Das Films with financing for its dance film set in India and directed by Duane Adler, who wrote and created the first two STEP UP films. Pacific Mercantile’s production financing package consists of gap financing and cash-flowed pre-sales.
“Pacific Mercantile Bank not only provided customized financing for the film, but have been invaluable advisors throughout the process,” said Sriram Das, Producer of HEARTBEATS.
“We are thrilled to provide financial services for Das Films,” said Adrian Ward, Senior Vice President, Entertainment Industries Division, Pacific Mercantile Bank. “Sriram Das and his team have developed a very entertaining film with global potential.”
Principal filming began in late January on location in India. HEARTBEATS tells the story of a feisty American hip hop dancer who travels to India with her family for a wedding and falls in love – with both a new style of dance and the determined young man who introduces it to her.
HEARTBEATS is produced by Sriram Das for Das Films with Karine Martin for MediaBiz along with Andrea Chung, and Dileep Singh Rathore for On The Road India. Myriad Pictures is handling domestic and international sales and will launch outreach at the upcoming Berlin Film Festival.
Pacific Mercantile Bank is one of the premier lenders to independent film and television producers, distributors and other entertainment-related companies. Since 2009, Pacific Mercantile’s EID has extended more than $275 million in financing to independent film and television production companies. Collectively, the EID team has more than 50 years of exclusive entertainment-related experience and has financed more than 750 film and television productions with budgets ranging from $1 million to $65 million.