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Financing Independent Film

Discussion in 'Financing Your Business' started by THvmint, May 13, 2017.

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  1. THvmint Member

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    After screenwriting for nine years, I am planning to write/direct my first feature film. I have been exploring the different methods to financing a film, however, I was curious about bank loans...

    I am 29, and, although I haven't paid for a house, I have paid off two cars. My credit score in high 700's. Hypothetically, I could probably obtain approx. $80,000 in credit cards to pay for expenses on the film. I do not plan to do this. However, with this type of credit, shouldn't I be able to obtain some sort of bank loan?

    My budget is approx. $300,000.

    On a side note, I own/manage a small business that is doing fairly well. I have used credit responsibly in the past, and it has benefited my business.
     
  2. YourselfPious

    YourselfPious Member

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    Good luck to your business
     
  3. Dr.Smith

    Dr.Smith Member

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    Go for your dreams! I wish you all the very best of luck...you are on the right path however, as far you have SSN and strong credit history, there will be no problems in applying for a loan, but from my experiences getting a loan depends on various factors and not only the credit score...other things like your payment history, your credit cards limit, your length of credit history etc have to be taken into account to.
     
    djbaxter likes this.
  4. Edvin

    Edvin MVP Member

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    Does that mean that you have a house mortgage (loan)? If so, then the house may have equity. You can take a loan against the equity; most banks want to hear that you will invest it back into the house (i.e. pool, remodel kitchen, etc) so that the equity is not lost.
     
    djbaxter and Dr.Smith like this.
  5. Dr.Smith

    Dr.Smith Member

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    You do bring across an important point here.
     
    djbaxter likes this.
  6. azgold

    azgold Moderator MVP Member

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    What about GoFundMe, or similar? I've seen many game and movie developers there.
     
    djbaxter likes this.

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