Program Overview
PictureNL may provide a loan to qualified applicants to support the essential process of development that takes an idea through the stages of research, writing, market analysis, and costing. Support for the development of a project does not, in any way, guarantee funding by PictureNL in later stages of the project.
Financial Participation
PictureNL’s Script Development program can invest up to 33% towards an eligible project’s development budget financing. Eligible development projects may include script writing/treatments, associated costs and demo reels. Production companies can apply for up to three phases of development for one single project to a maximum of $35,000 in total over all phases or for larger projects, the full $35,000 can be accessed in one phase. Development projects cannot apply for a tax credit. Development projects require a third-party investment commitment. PictureNL will disburse 95% of its financial commitment once all other sources of financing have been confirmed in writing with the remaining 5% disbursed after development has been completed and all required documentation has been submitted. PictureNL has implemented a policy regarding 5% holdbacks. If, after three years from original date of investment, the 5% holdback for a project has not been drawn upon the outstanding amount will be reinvested back into the program.
The Development Loan Program is considered “an advance on equity” and once the Script Development Agreement has been executed, the Producer agrees to repay the Corporation the total Advance amounts owing on the earlier of:
the first day of principal photography of the Film or of any cinematographic, video or audio-visual work based on whole or in part upon the Screenplay or any other use of the Screenplay;
the sale, transfer, assignment or other disposition of the Screenplay.
For further details, please review the Development Loan Program guidelines available at https://picturenl.ca/development/, or contact David Shears, Manager of Programs at david@picturenl.ca.
Eligibility
Only incorporated Newfoundland and Labrador film and video production companies may apply. Individuals, non-incorporated groups, or licensed broadcasters are not eligible. Corporations must demonstrate that their primary focus is on the development, production, and distribution of film and video products, and must be at least 51% owned by a resident of Newfoundland and Labrador as described for individuals. For the purposes of these guidelines, a Newfoundland and Labrador Resident is a person who has maintained a principle residence in Newfoundland and Labrador for at least 12 consecutive months immediately prior to the date of application.
Development Loan Program
Program Overview
PictureNL may provide a loan to qualified applicants to support the essential process of development that takes an idea through the stages of research, writing, market analysis, and costing. Support for the development of a project does not, in any way, guarantee funding by PictureNL in later stages of the project.
Financial Participation
PictureNL’s Script Development program can invest up to 33% towards an eligible project’s development budget financing. Eligible development projects may include script writing/treatments, associated costs and demo reels. Production companies can apply for up to three phases of development for one single project to a maximum of $35,000 in total over all phases or for larger projects, the full $35,000 can be accessed in one phase. Development projects cannot apply for a tax credit. Development projects require a third-party investment commitment. PictureNL will disburse 95% of its financial commitment once all other sources of financing have been confirmed in writing with the remaining 5% disbursed after development has been completed and all required documentation has been submitted. PictureNL has implemented a policy regarding 5% holdbacks. If, after three years from original date of investment, the 5% holdback for a project has not been drawn upon the outstanding amount will be reinvested back into the program.
The Development Loan Program is considered “an advance on equity” and once the Script Development Agreement has been executed, the Producer agrees to repay the Corporation the total Advance amounts owing on the earlier of:
the first day of principal photography of the Film or of any cinematographic, video or audio-visual work based on whole or in part upon the Screenplay or any other use of the Screenplay;
the sale, transfer, assignment or other disposition of the Screenplay.
For further details, please review the Development Loan Program guidelines available at https://picturenl.ca/development/, or contact David Shears, Manager of Programs at david@picturenl.ca.
Eligibility
Only incorporated Newfoundland and Labrador film and video production companies may apply. Individuals, non-incorporated groups, or licensed broadcasters are not eligible. Corporations must demonstrate that their primary focus is on the development, production, and distribution of film and video products, and must be at least 51% owned by a resident of Newfoundland and Labrador as described for individuals. For the purposes of these guidelines, a Newfoundland and Labrador Resident is a person who has maintained a principle residence in Newfoundland and Labrador for at least 12 consecutive months immediately prior to the date of application.