The new loan advance fund has been activated

  • 11.02.2013

The principle: a producer signing an agreement with Wallimage, receives 50% of the allotted amount upon signing the contract while the rest of the sum remains due until proof of expenses has been submitted. However, from now on they can discount the remaining 50% at Wallimage Entreprises, on condition that the slated Walloon expenses are incurred for at least 50% of the discounted sum with companies from the Wallimage Entreprises portfolio.

To clarify, an example: if Wallimage Coproductions decides to finance a project for €400,000, then the producer will receive €200,000 when signing the agreement. A balance of €200,000 remains open. When budgeting the expenses in Wallonia, if the producers spends at least €100,000 in a company out of the Wallimage Entreprises portfolio (see the list on the site), he can discount the €200,000 due later. Other than that, not much changes, as the proof of expenses still has to be submitted as soon as possible to Wallimage Coproductions, which will use these as base to reimburse Wallimage Entreprises. There are several other conditions to be met, but each producer can discuss these with Wallimage when applying. The price of this discount: the reference rate used by the European Commission, increased with 4%, or, at this moment, 5,05€ per year.

A full list of related companies can be found HERE