How I Got Funding for my First Film

I am a member of several film making groups on LinkedIn. Recently, I started a discussion about film financing. I received a lot of advice, but also received messages from many independent filmmakers asking me how I was able to make my first film with so many recognizable names. I thought that it would be a good idea to write an article about it so that new filmmakers can perhaps follow what I did. Good luck!

In April 2015, I entered the Disability Film Challenge with a short film named "Unspoken." The film didn't win any awards, but the people at the festival told me that the film was considered one of the finalists. We had such a good time and did such a good job, someone working on the film suggested that we create a full-length film. At the time, it sounded like a good idea. One of my scripts, "What Happened Last Night," was already typed in a screenplay format. That's how we decided to create this film rather than any of my others.

The very first thing I did was create a few crowdfunding campaigns. I tried IndieGogo and Kickstarter, but never really got enough traction on those sites. Let's face it-- Film projects absolutely saturate those sites. You have a limit of 30 days and if you don't hit your goal, you don't get any of the money. It was a tough go, for sure. On one of those sites, though, someone recommended Hatchfund.org to me. I had never heard of it, so I checked it out. Hatchfund is a site where contributions to any project are tax deductible. They have different strategies for campaigns, so I gave it a shot. The site didn't have as many film projects as the other sites, and I was able to raise a few thousand dollars. More importantly, I was able to connect with people that were interested in investing in film, but didn't know where to begin. Fortunately for me, they allowed me to present the opportunities that investing in a film brings. I was able to speak with them, and several decided to become bona fide investors in the film.

Of course, I promoted the heck out of all of my crowdfunding efforts through my Facebook and Twitter accounts. Friends would throw in a few bucks, but it was more important to me that they share the links with their friends. After all, the more people that saw it, the more likely I was to either find investors or have people contribute through the crowdfunding sites. That was my biggest ask of people I knew-- Not to contribute, but to share to their networks.

About a month into my crowdfunding efforts, a friend reached out to me and told me that her husband's partner was interested in investing the majority of the budget that we needed to make the film. I was THRILLED! Moreover, he didn't want equity in the film. He just wanted a 20% return on investment (ROI). I thought it was an odd request, but I was told that this was how he made investments in the past-- But never invested in a film before. Since it was my first film, I was absolutely flexible on repayment. The idea of being able to control more of my "back end" was very appealing, too. This investor usually only dabbled in concrete things such as real estate, instead of a project that could potentially keep on paying. I tried to explain it, but they were steadfast in what they wanted. We were almost ready.

Since my friend reached out to me about her husband, I figured that I would reach out to people that I knew. After all, you never know what connections other people may have. I sent out a blanket email to virtually all of my email contacts. I let them know that they weren't on a list, and that I was looking for an investor for my film. Well, a friend sent it to her friend, who forwarded it on to his friend, who requested to meet me. We met in person, he loved the script and gave me the remainder of my funding within a week. With all of the funding in place, we were ready to go

We were filming in New York State in 2015, and knew that we had to start applying for tax credits. My Line Producer started the process. Now, I love New York (born, raised and currently live on Long Island, as a matter of fact), but the tax credit process sucks-- ESPECIALLY since it changed halfway through our filming. You are required to jump through all sorts of hoops. We were under the impression that we were going to get 30% of our budget back in tax credits. I tried very hard to work with the woman that was the Suffolk County Film Commissioner at the time, and didn't get very good information from her. Fortunately, we were able to speak with the people from the tax credit office. To all of you film makers looking to obtain tax credits: Make sure you speak with the tax credit office BEFORE you attempt to secure funding. Ask what happens to your project if tax credit requirements change before you are finished with your project. This was the case with my film, and we had to re-apply during production. Unfortunately, a policy was instituted that you cannot apply for tax credits if you have already started production on a film, so we were disqualified. We didn't even find out that we were not qualified until about three months after applying. It is REALLY important that you work with someone that is educated on tax credits for where ever you may be filming. We are filming my next project in Georgia, and are working with a FABULOUS producer there that has plenty of experience with tax credits. Make sure your producer or line producer is able to get your tax credits!!

I had been warned by another film maker that I needed to make sure that I had "finishing money." So, I headed out to the AFM to both try to find a sales agent as well as secure more funding. We had a mini-booth (a whopping $3,500) that my Line Producer and I ran. We were there for the entire week, meeting with people and learning as much as we could about the film industry. At the end of the week, we secured finishing money, and had interest from several sales agents.

Once we received all of the funding, we completed out AMAZING cast (well, AMAZING for a first-time independent film) and dove into pre-production. The film was completed and released in less than a year. We are still "in the red" on this film, but have distribution in the USA, Canada and the UK. "What Happened Last Night" will be released in China in September or October.

So, to sum up what a new film maker can do in order to get funding for their project the way that I did:

• CROWDFUNDING - I'm sure you've already tried it, but think outside the box. Besides IndieGogo and KickStarter, try Hatchfund.org and GoFundMe.com. Stay on top of sending "thank you" messages to people and try to network with them. MAKE SURE you ask your social network connections to share your links.
• ASK PEOPLE - It's less overwhelming than you think it is. Write a simple, friendly and brief email and BCC everyone in your email address book, letting them know about your project. MAKE SURE you tell them that they are not on any sort of email list. Let them know that you are looking for partners for your project. Ask them to share a crowdfunding link for you, even if they aren't interested in your project. Give them permission to forward your email to anyone they feel may be interested.
• TAX CREDITS - Know what you're doing, or work with someone else that does. Learn about the tax credit requirements in the state where you are filming. Follow the directions-- ALL of the directions. Ask questions. Call the tax credit office. Get help.
• FILM MARKETS - I went to the AFM (American Film Market). Every major film festival has a market attached to it: Cannes, SXSW, Venice, Sundance, etc. Look up film festivals in your area and see if there are any round tables, workshops or even a mini-film market attached. Take the chance and go somewhere bigger, like AFM. I wouldn't necessarily recommend going to a film market with no funding in place, though... investors at these markets seem to prefer if someone else takes a chance, first. Make sure that you have a lot of promotional material, showing how your film will be a decent financial risk. (Because, let's face it, ALL investments are risks.)

I took a VERY unconventional route to financing my first film. I didn't have anyone to guide me. I didn't have a proven track record. I didn't break rules, but certainly broke the mold. It was guerrilla filmmaking at its finest, if I do say so myself. I learned a LOT-- Mainly things that you SHOULDN'T do when making an independent film. I'm very fortunately to have received distribution for the film in the USA and Canada by GVN Releasing through Sony, in the UK by Safecracker Pictures and China (this Fall) by Walking Shadows. If you like this article, I will write another one about obtaining distribution in the future-- So please be sure to leave a comment.

Best wishes on obtaining funding for your film.

Candice Cain is a writer/director as well as President of Gemelli Films Incorporated. "What Happened Last Night" is available in all territories except the USA, Canada, UK and China. She and her producers are currently working on obtaining funding for her second film, "Live to Tell."