Funding for my first movie, almost obtained...help..

R

robo3687

Well-known member
Ok so I've had a movie in pre-production for a few weeks now and have come to the conclusion that the equipment I have is not up to scratch and I need something new, but don't have the funds. So yesterday I figured it couldn't hurt to put some ads in free classifieds on the net to see if anyone would like to put some money into this movie.

Granted I never thought that it would work but I checked my email this morning and I had an offer from MLC Capital Inc. in London wanting to take a close look at the details of my project as they are interested in providing funding for me.

i was like :cheesy: :grin: :beer:

but there are a few things I need a bit of help with...they would like a business plan from me to review but I'm not sure on what I should include in it?

I said in the ad that I was preparing for my first major movie and that I was short on funds to cover equipment and such.

Oh and this is the website of MLC Capital Inc. if someone would look over it for me to see if there are any catches that I'm missing (I'm not incredibly financially minded). Also I am unclear whether the money they are offering will be mine or if I'll have to pay it back at some stage..?

http://www.mlccapitaloffshore.com/Index.html

Thanks for your time
 
ok so with a bit of corresponance with MLC it turns out I can't accept the funding because I'm not an incorporated business
 
So... incorporate...

Actually you have to be extraordinarily cautious with anyone who offers you funding. If at any point anywhere along the line they ask YOU for money (for anything -- an "application fee", anything: cut and run right there. They can take a cut out of whatever funds they raise for you, that's okay -- but it should never come out of your pocket.
 
Barry_Green said:
So... incorporate...

Actually you have to be extraordinarily cautious with anyone who offers you funding. If at any point anywhere along the line they ask YOU for money (for anything -- an "application fee", anything: cut and run right there. They can take a cut out of whatever funds they raise for you, that's okay -- but it should never come out of your pocket.
Click to expand...


not sure i have the money to even do that...lol....i will look into it though
 
i checked the site and it doesn't seem like they actually finance anything. Seems to me like they raise funds for you and charrge you a percentage of the funds raised: (from the site)
project funding debt: 1% on all capital raised
project funding equity: 3-5% on all capital raised
If they are able to actually raise the capital for you...sure give them a percentage of THAT money...not yours "until funds are secured"
Honestly....looks kinda shady to me.
 
I wish we could start a thread on bogus fundraisers... just like were not to buy your DVX or HVX...

Because they all say they can raise funding... its no problem... they have plenty of people already lined up... but of course they want their finders fee before they go looking... of course they hang up on you when you say I thought you had the people lined up or you'll get your money when I get mine...
 
Mmmmm bogus.

Mmmmm bogus.

I've seen this company before on another site (that time an australian first time film maker!).

Just so you know...

That postcode does not exist. There are no recrds of that company in the phone book. Companies House have no listing of a company in that name (they have MLC Holdings and MLC Nominees and various others none of which have filed accounts as they've only just been set up).

Draw from that what you will, but from the look of the site and that info I'd assume it's a scam.

Care to sell your car and ship if to Nigeria for a million pounds anyone?.........
 
Of course you could potentially choose to come and shoot in Canada, and particularly in my province where you get a rebate of $.50 on every dollar you pay to local cast and crew members. This works out to approx. 20-25% of budget for a project's financial structure. You interim finance the estimated labor expenditure to the tune of 80%, and then you get the rebate once you incur all of your expenses...

Phillip Seymour Hoffman shot Capote here, and last year Shall We Dance with JLo and Richard Gere shot here, so clearly we have capable, world-class crews.
 
protect your ASSets ... form a LCC or limited partnership for the production.
LLC can be formed with one person .. corporation is most expensive and paper intensive ..

LLC using attorney ? 800-1500 ... buy a how to form LLC book and do it yourself ? $30 book and depending on your state ? california 800 year .. nevada 40 one time fee ..many states are one time fee others are per year .

http://www.nolo.com/article.cfm/objectID/FC4734C6-FE8E-4D5C-BFE5E43131AEBA1F/111/182/245/ART/
 
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