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Canada Gets New Indie Financing Company

Indiewire By Indiewire | Indiewire May 11, 1998 at 2:0AM

by Mark RabinowitzA new film financing company, Independent Film Financing Inc. (IFF), hasbeen started in Canada by former Paragon vice president, Laura Polley.According to a company statement, IFF will provide production financingservices, including interim production and deficit financing and thestructuring and financing of Canadian content and co-production dealsinvolving Telefilm, treaty co-productions, the Canadian Audio VisualCertification Office (CAVCO) and the Ontario Film and Television TaxCredit (OFTTC), and by using other methods, such as Service andprovincial tax credits.In the roughly two months since the IFF opened its doors, they havebegan a number of projects, including productions with YTV Canada andIMAX Corporation. indieWIRE spoke with IFF Managing Director VanessaSteimmetz by telephone last week, and she clarified the company'sposition. "We are not a fund," she said, adding that the company providedproduction financing services and advice. "We put producers togetherwith banks."In a prepared statement, Polly said that "given the rapid growth ofindependent production in Canada, there is a definite need for this typeof service." She went on to say that, "By utilizing our resourcesfilmmakers can concentrate on creating quality product for themarketplace."Prior to setting up IFF, Polley was the Vice President of ParagonFinancial Investments LTD. (PFI), a division of Paragon EntertainmentCorporation, where she was responsible for all aspects of day-to-dayoperations of the division. Prior to the introduction of federal andprovincial tax credits, Polley and PFI tax sheltered over 15 projects.To contact IFF, please call: (416) 598-3270
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by Mark Rabinowitz




A new film financing company, Independent Film Financing Inc. (IFF), has
been started in Canada by former Paragon vice president, Laura Polley.
According to a company statement, IFF will provide production financing
services, including interim production and deficit financing and the
structuring and financing of Canadian content and co-production deals
involving Telefilm, treaty co-productions, the Canadian Audio Visual
Certification Office (CAVCO) and the Ontario Film and Television Tax
Credit (OFTTC), and by using other methods, such as Service and
provincial tax credits.


In the roughly two months since the IFF opened its doors, they have
began a number of projects, including productions with YTV Canada and
IMAX Corporation. indieWIRE spoke with IFF Managing Director Vanessa
Steimmetz by telephone last week, and she clarified the company's
position. "We are not a fund," she said, adding that the company provided
production financing services and advice. "We put producers together
with banks."


In a prepared statement, Polly said that "given the rapid growth of
independent production in Canada, there is a definite need for this type
of service." She went on to say that, "By utilizing our resources
filmmakers can concentrate on creating quality product for the
marketplace."


Prior to setting up IFF, Polley was the Vice President of Paragon
Financial Investments LTD. (PFI), a division of Paragon Entertainment
Corporation, where she was responsible for all aspects of day-to-day
operations of the division. Prior to the introduction of federal and
provincial tax credits, Polley and PFI tax sheltered over 15 projects.


To contact IFF, please call: (416) 598-3270