Guarantee for European Cinema & TV production
Since 2006, Ifcic has broadened its geographical reach by issuing loan guarantees in favour of European film producers located outside of France, and of European films not eligible to French state support schemes. The CNC (Centre national du cinéma et de l’image animée) and the European Union – through the Media Production Guarantee Fund (MPGF) from 2010 to 2013 and the Cultural and Creative Sectors Guarantee Facility managed by the EIF (European Investment Fund) from 2017 to 2020 – have supported this policy.
The Ifcic guarantee applies to loans granted by European credit institutions to European independent production companies (as defined in the Eligibility criteria) for the financing of:
- the pre-production and/or production of European films and TV programmes -fiction, documentary or animation- (as defined in the Eligibility criteria). The guarantee rate represents 55% of the loan amount
- working capital – guarantee rate of 50%
- project-development – guarantee rate of 70%
Ifcic guarantees benefit the credit institution (or institutions in the case of a syndication) that grants the guaranteed loan. It constitutes a participation in risk in which Ifcic shares the final capital risk of the credit transaction with the credit institution. This implies that any securities assigned to the credit reimbursement fully benefit Ifcic, pro rata to its share in the risk.
The credit institution (or the lead credit manager in the case of a syndication) builds up and sends Ifcic the guarantee request application (see the Main characteristics of the guarantee).
The Ifcic guarantee fee ranges from 0,5% to 0,7% per annum of the loan amount – depending on the guarantee rate offered – and is reduced by half for the available part of the loan (i.e. authorized but not out-standing).
Main eligibility criteria
European credit institutions:
- registered in a country participating in the Creative Europe Programme of the European Union,
- duly authorized to carry-out bank financing activities (by a competent authority recognized by the European Union)
European independent production companies:
- whose main activity is audiovisual production
- registered in a country participating in the Creative Europe Programme of the European Union (and owned in majority, directly or indirectly, by nationals from these countries)
- SMEs not subject to a majority control of a television broadcaster (25% of the share capital for a single broadcaster, 50% if several broadcasters are involved) and whose revenues do not solely come from a single broadcaster
Works financed (pre-production and production loans):
- feature film or TV programme of either fiction, animation or documentary
- produced in majority by companies established in countries participating in the Creative Europe Programme of the European Union (and with financing from these countries)
- having proof of nationality delivered by a competent authority (participating in the Creative Europe Programme of the European Union) and produced with the significant participation of professionals who are nationals and/or residents of countries participating in the Creative Europe Programme of the European Union
Contact : email@example.com