EFIC provided a Producer Offset loan to Mindful Films
Australian production company Mindful Films Pty Ltd (Mindful Films) had completed its new documentary series, Outback Fight Club, and the series had aired on local television station SBS.
The producers intended to apply for the Australian Government’s Producer Offset, a refundable tax rebate for producers of Australian feature films, television and other projects.
However, the company faced a funding shortfall for post-production costs to be paid before it received the Producer Offset, such as editing the film and soundtrack and legal, business and marketing expenses.
Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, provided a loan of $69,000 to Mindful Films, which is a special purpose vehicle production company jointly owned by series producer Isabel Perez and Paul Scott, the writer, director and executive producer and owner of production company Mindful Media Pty Ltd.
‘Screen Australia and SBS helped us to finance production of the series, but we needed further funds to pay for post-production expenses before we will receive the Producer Offset through the tax system’, says Isabel Perez. ‘EFIC’s loan will increase our cash flow and help us to meet those costs’.
EFIC’s Producer Offset loan provides financial support for Australian productions that are eligible for the Producer Offset and have international distribution agreements. Iliad Entertainment, based in New York, holds the worldwide distribution rights for Outback Fight Club outside Australia.
Outback Fight Club, set in the Australian outback, explores the secretive world of tent boxing, in which boxing troupes tour small towns and allow volunteers to fight for cash. The documentary follows the world’s last surviving tent boxing group on their final tour of remote Queensland.
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