But there is of course another branch. Wallimage Enterprises SA directly finances audiovisual companies: service providers for cinema, video games, multimedia, music…
The connections between the two axes are not automatic, but their interaction will soon be more obvious. And effective.
The investments made by Wallimage Coproductions are intended to generate regional spending. To achieve this objective, the sum invested in a work is paid in instalments: 50% on signing the agreement and the balance in two instalments, based on proof of expenditure.
To increase the attractiveness of the fund and to make it one of the only European regional funds where 100% of the investment is available as soon as the agreement is signed, Wallimage Entreprises has set up a discount fund which will make the overall procedure faster and more efficient for everyone.
Its principle is simple: the part not paid by Wallimage Coproductions can be discounted at Wallimage Entreprises, on the basis of a simple request. This can be introduced as soon as the agreement for the co-production has been obtained. And subject to acceptance of the file because it is a selective mechanism.
However, a few rules must be observed:
– 100% of the amount not paid by Wallimage Coproductions must be discounted.
– The beneficiary producer must have signed at least one agreement with Wallimage Coproductions.
– The project must be financed for at least 50% of its total budget.
– At least 50% of the expected amount must be spent within the companies of the Wallimage Entreprises portfolio. The list is available on the website (www.wallimage.be/entreprises).
In full compliance with the relevant European provisions, the discounted amount will bear interest at the European Commission’s reference rate plus a margin of 400 basis points.
For your information, as of July 1, 2012, this results in an annual rate of 5.38%. This interest rate includes the commission, the return and the application fee.
However, if the beneficiary producer can also prove that he has taken out an unsecured bank loan within 6 months, the risk of which is comparable to the operation concerned, at a lower rate, the rate may be reduced.
Three sessions will be organized annually: the first one in March, the second one in July and the third one in November, each of them will be linked to two successive sessions: one of Wallimage and one of Wallimage/Bruxellimage.
This discount fund is therefore a new string to the bow of Wallimage which gains in coherence and efficiency. This will make it easier for producers.
Speed, availability, efficiency. The Walloon dynamism is not only a slogan.
