by Rowan Griggs
Getting financial support is rather complex for many film creators, even when you are on a shoestring budget. It is perfectly possible to create a dazzling blockbuster without the insane amounts of cash spent in Hollywood, and this article will show you how to obtain funding for your low-budget movie.
Bridge Financing
It is possible that you have some of the cash you need to start your project but still have a deficit. With bridge financing, you can obtain a loan to ‘bridge’ that deficit. You can use intellectual property or film as collateral.
Bridging loans experts from Maxironcapital.com.au agree, reinforcing the benefits of using bridge financing to fund your low-budget film in saying, “We understand the challenges there are to get funding on small businesses. That is why we offer loans to small businesses. Even if you have a good or bad credit history, whether you have no assets or have strong financial assets, we cater to your needs. We are all for you.” If you are a filmmaker, you may take advantage of the loans offered by companies like this.
Apply for Funding from Film Financiers
The most common method of obtaining funds for films is through applying for grants, whether you intend to make a documentary, animation, or a music video. You might want to know, however, that competition is exceptionally fierce; and to obtain an edge over other applicants, you need to put in tonnes of work.
There are two major arrangements from film financiers. One is they take an equity share from a movie. The other arrangement is they provide loans to movie producers.
You need to prepare a convincing pitch and seek the insights of previous recipients. Many Australian screen content creators obtain grants, mainly from Screen Australia.
Screen Australia was started in 2008 as a funding body that supports the production of Australian content. However, there is cutthroat competition with less than 10% of applicants obtaining funds, which may require you to look into online loans.
You may also tap some online lenders offering business loans in Australia
CrowdFunding
Many movie makers are familiar with Kickstarter and Indiegogo, the two most reputed film crowdfunding sites. These two can help you find finance for any project; board games, comics, and films.
With crowdfunding sites, you also need to create an appealing video pitch and generate massive amounts of support from your fans on major social media networks. You are encouraged to put in some work into your project so that you can leverage the footage for higher chances of success.
Kickstarter is a crowdfunding program that has accrued over $1 billion in funding from over 5.7m donors worldwide. Their funding rate is somewhat encouraging (42.9%) with over 135,000 projects funded since its inception in 2009.
You do not have to pay any application fees until your application goes through. The only catch with Kickstarter is that they have a project time limit of 30 days.
Indiegogo is another crowdfunding website, with around 9 million visitors every month and 47% of the projects they’ve funded being run by women. It is not as famous as Kickstarter though and has a higher processing fee.
Seek Funding from Family and Friends
It can be quite challenging to obtain funding from sponsors and financiers, as these sources of finance are most likely to prefer to put their money with proven industry players. Instead, you can look to your family, friends, and colleagues, and you will be surprised by just how generous they can be. If none of them can help you, you can apply for a short term unsecured loan for this.
Nerida Louise, founder and creative director at Nerida Louise photography, agrees, saying “the generosity of family and friends can astound you. The support of my loved ones helped lift my creative dreams off the ground, and can certainly do the same for you if given a chance.”
Remember again, not to take this funding for granted, treat them just like any other financier: with respect and value. Pitch your project with a video, and explain in detail how you will use their money.
Also, consider a backend percentage if your film will have distribution and inviting them to a post-filming party.
Final Thoughts
Despite having talent and experience, funding is required to make your movie a reality. Many famous movie creators have gone as far as to max out all their credit cards. By now you should see there are a variety of ways to get your dream film project off the ground. There will be many obstacles, but you have to believe strongly in your concept so you can overcome them.
