EFIC's Producer Offset loan helps Ulah
When production company Ulah Pty Ltd (Ulah) began producing Australian political thriller, Last Dance, they intended to apply for the Australian Government’s Producer Offset, a refundable tax rebate for producers of Australian feature films, television and other projects, to cover their post-production costs payable after completion of the production.
Written by Pulbrook and Terence Hammond, the film follows the story of Sadiq Mohammad, a young radical Palestinian who, after fleeing from a failed suicide bombing of a synagogue, holds hostage Ulah Lippman, a holocaust survivor, in her apartment.
However, Ulah soon realised that cash flow for production was still a challenge, because those production costs would have to be paid before the Australian Government’s refundable tax rebate, Producer Offset is received.
To help ease cash flow for the production, Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, provided a loan to Ulah, which is a special purpose vehicle productions company owned by Antony I. Ginnane – veteran of the film and television industry.
EFIC’s Producer Offset loan assists in the financing of eligible Australian film, documentary and television productions with international distribution agreements. The loan provides upfront access to finance to cover production costs and complements the Australian Government’s Producer Offset initiative.
“We are proud to support Antony I. Ginnane in the export of a confronting Australian story through our Producer Offset loan”, said EFIC’s Head of Alliance and Product, SME & Mid Market, Alex Fernandez. “The film touches on issues of ideology, faith, freedom but ultimately is the story of family and a mother’s love.”
“EFIC’s support gave us the financial breathing space we needed to tell this story about the power of compassion and reassure our international partners that we could meet our agreements to distribute the final production to international audiences,” Antony I. Ginnane from Ulah.
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