Blue Fox Entertainment Launches Blue Fox Financing After Acquisition Of Digital Marketplace Crossroad Lending
(deadline.com)
Sales and distribution outfit Blue Fox Entertainment is launching a digital lending platform dedicated to film financing.
Blue Fox Financing is being created following the acquisition of Crossroad Lending, a film financing digital marketplace.
Developed and created by film producer Patrick Rizzotti, Crossroad is designed to service the entertainment industry by connecting filmmakers with a curated database of film and television lenders as well as equity financiers.
The business model for Blue Fox Financing will focus on U.S. tax credit loans, gap/supergap loans, U.S. minimum guarantees and/or foreign pre-sales and estimates, the company said. Rizzotti will head up the new company.
“Crossroads Lending’s platform is uniquely positioned in the entertainment industry for its ability to streamline and expedite funding opportunities, for both filmmakers and lenders. Blue Fox Financing is a natural extension of Blue Fox Entertainment’s distribution and sales business but is a standalone company operated independently by Patrick,” said Blue Fox founder James Huntsman.
Rizzotti added, “Several years ago, while attempting to cashflow a sizable streaming licensing fee, I realized there were only limited and expensive options for securing a lender, even for low risk collateral. As a result, I created a marketplace which connected filmmakers to lenders, whereby there would be one centralized platform to shop your debt financing on films. This is commonplace in other industries like mortgage, business loans and insurance. As a film producer, I’m always looking for this type of financing on my own projects and know firsthand how useful this marketplace will be to filmmakers who will now be able to instantly go out to a wide array of lenders and knowing they are getting the best rates.”
By: Tome Grater
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