Finance firm up and running
Merger creates 120dB Films Tax FinanceIndie financiers 120dB Films and Tax Credit Finance have merged to form the 120dB Films Tax Finance, with plans to place and fund credits on aggregate production budgets of more than $300 million in 2010.
The new entity's managing partners will be Stephen Hays and Peter Graham, who founded 120dB in 2004, and Anthony Gudas, who managed TCF.
120dB has served as a senior lender to indie films and TV, providing gap, presale, tax credit, finishing funds, prints and advertising as well as bridge financing for more than 40 films and TV series. TCF has overseen more than $300 million in project financing since its formation in 2002.
120dB and TCF also have worked together on such productions as TNT's "Leverage," Robert Rodriguez's feature "Machete" and the Josh Lucas-Terrence Howard starrer "Little Murder."
120dB Films Tax Finance expects to incorporate in Iowa and register in several other states where there is tax-credit demand.