LendingFront Partners with FilmHedge to Facilitate Lending for Independent Film and TV Production
NEW YORK, April 19, 2021 /PRNewswire-PRWeb/ — LendingFront, a leading fintech operating system that powers business lending for community banks, credit unions, CDFIs, payment processors and alternative lenders, today announced it has partnered with FilmHedge, an alternative lender that provides short term financing to borrowers working in film, TV and media. LendingFront’s platform will be integrated into FilmHedge’s technology stack to bring efficiency, ease and access to their lending process.
“There’s been a huge demand for content this past year, as more people are streaming movies, media, and original programming from home. FilmHedge is making it easier for independent producers to borrow capital for such creative projects, and LendingFront was the only company willing to meet our highly unique needs,” said Jon Gosier, founder and CEO, FilmHedge. “Off-the-shelf software wouldn’t work with the non-standard customer data points and unique collateralization that FilmHedge uses to make loan decisions. LendingFront tailored exactly the right process for us to assess and deliver loans more efficiently and easily within these creative industries.”
“LendingFront is proud to work with a forward-thinking lender like FilmHedge. Jon and his team are making capital easier to access in an industry historically ignored by traditional lenders simply because its borrowers did not fit typical customer profiles. If media producers could even secure capital previously, the process was paper-based, people-dependent, and time consuming. FilmHedge is bringing both innovation and efficiency to its industry, and we’re delighted to be their chosen platform partner,” said Jorge Sun, co-founder and CEO of LendingFront.
FilmHedge determines the terms for its loan offers based on how a media project is collateralized. Forms of collateral include media agreements, tax credits, hard assets, and more. There are no restrictions on how FilmHedge’s capital is used in the production process.