The Film Finances CASHét Credit Card
Cutting edge financial solutions for the film industry from one of FBT Film’s premier film partners
For the first time ever, independent movie and TV productions can now have their own credit card. The CASHét credit card is customized for independent film and TV productions, currently offered in conjunction with Fintage House financial services and Film Finances. The card, pronounced ka’SHa, is offered to single use corporations or LLC’s with no credit history. This system offers more people the opportunity to transition from cash to plastic.
CASHét is a credit card processed by MasterCard that offers production companies 1% cash back on all purchases made within the film industry and relevant expenses.
“For the first time there’s a card that pays money back to a company in the production world,” said Paul Rogers, who recently left Fintage to take the lead as chief operating officer of CASHét Card.
After more than a year of planning and a testing on seven productions including Better Living Through Chemistry, starring Olivia Wilde, Sam Rockwell and Jane Fonda, the company is finally ready to make its debut.
Using CASHét in Film Productions
Film Finances bonds more than 200 films per year with more than $2 billion in expenditures, and is one of the major supporters of FBT Film & Entertainment. This company is a game-changer within the film industry, and looking for a reliable payment method within their field of expertise, it co-created CASHét. “We’re just one step ahead of society in terms of starting to use plastic instead of paper money,” says Kurt Woolner, co-president of Film Finances.
The CASHét credit card is customized for independent film and TV productions and is currently offered in conjunction with Fintage House financial services. The card can be used by single-use corporations or LLC’s with no prior credit history, offering more people the opportunity to transition from cash to plastic.
Main Benefits of the CASHét Card
This new credit card gives TV and movie producers the financial control they need to help make their production a reality. Benefits of the new card include:
- Can be used by productions for a variety of purchases including transportation, wardrobe and catering.
- Provides real-time accounting controls so that all purchases can be tracked.
- Offers discounts from a number of major vendors for travel, vehicle rental, construction, lodging and equipment supply.
- No interest is charged, as it is paid on demand, like an Amex card.
- Offers profitable use with one-percent cash back on all purchases.
How to Apply for a CASHét Film Production Card
Those interested in filing an application can do so directly through Film Finances, once in possession of their bond or can visit www.cashetcard.com. Please note: Complication bonds are not required for a card, but a security deposit equal to one-and-a-half weeks of expected weekly expenditure may be required.
Impact on Louisiana
New and innovative financial tools such as these should only serve to bolster the film industry in Louisiana, which already leads the nation as the number 1 “on location” spot to film movies and TV productions. Additionally, these types of financial programs fit perfectly with Louisiana’s incentive programs including film and digital media credits.
FBT Film is proud to partner with Film Finances Inc. on Louisiana productions for a variety of services. For more information about the credit card, tax credits or film production, please contact us today.
Image Credit & Quotes: http://www.hollywoodreporter.com/news/cashet-mastercard-tv-film-productions-354612