Development Loan Program

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.

PictureNL’s Development loan 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 financial commitment from a third-party investor at application stage.

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.

 

All final decisions for the Development Loan Program are made by PictureNL’s Board of Directors.

PictureNL has four annual funding application rounds for its Development Program. The upcoming deadlines for applications are:

• January 8, 2024
• April 15, 2024
• July 8, 2024
• October 7, 2024