IFF TO PROVIDE FUNDS FOR PIX
U.K.-based producer-financiers Jim Reeve and Tom Parkhouse, founders of Intl. Film Finance, have formed a partnership with Ireland-based DEPFA Bank to provide cash financing for films that have obtained government tax credits.
Reeve and Parkhouse made the announcement Thursday in conjunction with the American Film Market.
“This enables IFF to become involved in and support producers and other financiers in the financing of films at any budget level and across many jurisdictions,” Reeve said.
IFF can monetize film tax credits, certificate programs and rebates. These include the new U.K. and German credits, Luxembourg certificates, other European subsidies and credits, along with the increasing number of state credits and rebates available in the United States.
There’s no limit on how much financing IFF can provide and it can also provide tax credit finance for small independent films.
It also will ensure projects comply with requirements for tax credits.
Parkhouse launched talks with DEPFA four months ago while prepping for the new U.K. credits, which went into effect in spring.
“With both legal and accounting expertise inhouse and key relationships with specialist law and accountancy firms in major territories and States, IFF is well placed to assist in structuring, documenting and expediting the conclusion of film financing transactions,” he said.