Low Budget Production Program

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 projects are not eligible to apply for a tax credit through this program.

Producers applying for this program require a financial commitment from a third-party investor at application stage for their project.

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.

All final decisions for Low Budget Production funding 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