Closing Time

Once the bank's solicitor is satisfied that all conditions have been met, the loan can be drawn down. The bank will insist that certain payments are made out of the first draw down. These may include:

• the completion guarantor's fees;

• any payments to discharge finance provided for pre-production;

• the bank's arrangement fee;

After draw down, contact with the bank will lessen, although the bank will have certain monitoring requirements to ensure that the production of the film is on track. Not least of these is the provision of regular cost reports, with the bank's requirements usually matching those of the completion guarantor. The bank may raise certain questions but, generally speaking, as long as the cost reports are received in a timely manner they will let you get on with things, sit back, wait for repayment and look forward to the next deal.

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Film Making

Film Making

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