The Hong Kong government’s Film Guarantee Fund (FGF) has provided HK$1.25 million ($163,000) of loan support to forthcoming pic “Shaolin vs. Evil Dead II.”
The underwriting, provided through the Television & Entertainment Licensing Authority (TELA), covers half of a $325,000 facility provided to the film by Citic Ka Wah Bank.
The new provision is only the eighth since the fund was set up in April 2003 and the first since the eligibility rules were relaxed earlier this year.
The fund covers half of a bank loan to movies that have completion arrangements. But the loan support may not represent more than 35% of the total production budget. To date the fund has put up $1.2 million.
Pic is the sequel to My Way’s 2004 sci-fi actioner “Shaolin vs Evil Dead,” helmed by Douglas Kung, which starred Fan Sui-Wong, Gordon Liu, Shannon Yoh and Jacky Woo.