Innovative Products and Services Especially for Media & Entertainment companies
Our experience has enabled us to recognize the need to customize our business banking services for our clients in Media & Entertainment. We've responded with several innovative solutions:
Filmed Entertainment Products
Our premiere lending product in this industry is interim financing of film and television production. Our response times vary with the complexity and size of the transaction. We often grant approval for less complex deals in a matter of hours, while complicated or particularly large deals sometimes take up to a couple of weeks.
Foreign exchange and interest rate hedging run close seconds in importance for Media & Entertainment companies. We are experts in protecting our clients from adverse currency movements and from interest rate increases, both key factors in this industry. We can review forward exchange rates to help you determine appropriate currency rates for your production budget. Then we'll use either Forward Contracts or Options to lock in those rates and protect you from adverse fluctuations. Fixed-rate loans can also be used to protect against rising interest rates.
During principal photography, your Knowledge-Based Industries (KBI) specialist will advise the branch that you will often need petty cash. New card products can replace petty cash in many situations, and make your production accountant's job easier. Also, our suite of electronic banking products ensures well-organized electronic records, which can simplify audits and speed the payment of tax credits.
Digital Media Products
Although we work with some of the largest digital media companies in Canada, the majority of our digital clients are small businesses. We're working hard to streamline our products and services to better serve smaller clients. The Royal Business Lease, for example, uses a straightforward application that simplifies the process and shortens approval times.
We're also adapting products specifically for this fast-emerging field. Our project financing for digital productions is based on a specialized new risk assessment model. And a new leasing product (offered in conjunction with AT&T) allows smaller companies to acquire equipment to create digital content.
Find out about some of our other innovative financing products and services available to Media & Entertainment businesses.