Program Overview
PictureNL’s, Low Budget Production Program is available for eligible screen industry companies which are majority owned by a resident of Newfoundland and Labrador. Projects with production budgets up to a maximum of $150,000 are eligible to avail of this program. PictureNL can invest up to 33% towards an eligible project’s production financing. Low Budget Production Fund projects are not eligible to apply for a tax credit through this program.
Projects applying for this program require a financial commitment from a third-party investor at application stage.
If approved, 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 deliverables have 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.
PictureNL’s financial contribution is to be repaid in full in the event of the optioning, sale or transfer of the project to any third party. PictureNL will reserve the right to continue to participate in such a transferred property subject to its own review.
All final decisions for Low Budget Production funding are made by PictureNL’s Board of Directors.
For further details, please review the Low Budget Production program guidelines available at https://picturenl.ca/development/, or contact Suzanne Williams, Manager of Programs at Suzanne@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.
Low Budget Production Program
Program Overview
PictureNL’s, Low Budget Production Program is available for eligible screen industry companies which are majority owned by a resident of Newfoundland and Labrador. Projects with production budgets up to a maximum of $150,000 are eligible to avail of this program. PictureNL can invest up to 33% towards an eligible project’s production financing. Low Budget Production Fund projects are not eligible to apply for a tax credit through this program.
Projects applying for this program require a financial commitment from a third-party investor at application stage.
If approved, 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 deliverables have 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.
PictureNL’s financial contribution is to be repaid in full in the event of the optioning, sale or transfer of the project to any third party. PictureNL will reserve the right to continue to participate in such a transferred property subject to its own review.
All final decisions for Low Budget Production funding are made by PictureNL’s Board of Directors.
For further details, please review the Low Budget Production program guidelines available at https://picturenl.ca/development/, or contact Suzanne Williams, Manager of Programs at Suzanne@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.