Gross sales and distribution outfit Blue Fox Leisure is launching a digital lending platform devoted to movie financing.
Blue Fox Financing is being created following the acquisition of Crossroad Lending, a movie financing digital market.
Developed and created by movie producer Patrick Rizzotti, Crossroad is designed to service the leisure trade by connecting filmmakers with a curated database of movie and tv lenders in addition to fairness financiers.
The enterprise mannequin for Blue Fox Financing will give attention to U.S. tax credit score loans, hole/supergap loans, U.S. minimal ensures and/or international pre-sales and estimates, the corporate stated. Rizzotti will head up the brand new firm.
“Crossroads Lending’s platform is uniquely positioned within the leisure trade for its potential to streamline and expedite funding alternatives, for each filmmakers and lenders. Blue Fox Financing is a pure extension of Blue Fox Leisure’s distribution and gross sales enterprise however is a standalone firm operated independently by Patrick,” stated Blue Fox founder James Huntsman.
Rizzotti added, “A number of years in the past, whereas making an attempt to cashflow a large streaming licensing charge, I noticed there have been solely restricted and costly choices for securing a lender, even for low danger collateral. Consequently, I created a market which related filmmakers to lenders, whereby there can be one centralized platform to buy your debt financing on movies. That is commonplace in different industries like mortgage, enterprise loans and insurance coverage. As a movie producer, I’m at all times searching for the sort of financing alone tasks and know firsthand how helpful this market will likely be to filmmakers who will now be capable to immediately exit to a big selection of lenders and understanding they’re getting one of the best charges.”
