Blue Fox Entertainment Launches Blue Fox Funding – Deadline
Sales and distribution company Blue Fox Entertainment is launching a digital lending platform dedicated to film financing.
Blue Fox Financing is created following the acquisition of Crossroad Lending, a digital film financing marketplace.
Developed and created by film producer Patrick Rizzotti, Crossroad is designed to serve the entertainment industry by connecting filmmakers to a curated database of film and television lenders as well as backers.
Blue Fox Financing’s business model will focus on US tax credit loans, gap/supergap loans, US minimum guarantees and/or overseas pre-sales and appraisals, the company said. Rizzotti will lead the new company.
“Crossroads Lending’s platform is uniquely positioned in the entertainment industry for its ability to streamline and accelerate financing opportunities for filmmakers and lenders alike. Blue Fox Financing is a natural extension of Blue Fox Entertainment’s distribution and sales business, but it is a stand-alone company independently operated by Patrick,” said Blue Fox Founder James Huntsman.
Rizzotti added: “Several years ago, when I was trying to collect large streaming license fees, I realized that there were only limited and expensive options to obtain a lender, even for low-risk guarantees. As a result, I created a marketplace that connected filmmakers to lenders, through which there would be a centralized platform to buy your debt financing on films. This is commonplace in other industries like mortgages, business lending and insurance. As a film producer, I’m always on the lookout for this kind of funding for my own projects and I know firsthand how helpful this market will be for filmmakers who will now be able to instantly tap into a wide range of lenders. and knowing they are getting the best rates.”