 |
|
Everybody wants to be a star. Even the Small Business Administration. After years of bankrolling
everything from mom-and-pop shops to software ventures, the agency is guaranteeing its first loan for
production of an independent film--The Gristle, a comedy about con artists. Indie films may not
seem like a slam dunk, but Alberto Alvarado, director of the SBA's Los Angeles district office,
insists the makers of The Gristle are good credits risks. Before backing the "low-six-figure"
loan from Valley Bank in Moreno Valley, Calif., the SBA examined the film's projected cash flow, its
distribution plans, and the experience of filmmakers Mychal Wilson, Eugene Taylor, and David Portlock,
who debuted together at the 1996 Sundance Film Festival. The loan is also partly collateralized with
property owned by Taylor. Alvarado says that while filmmaking is risky, "so is widget-making. We
believe we're taking a measured risk." For his next act, Alvarado is gathering a group of banks to
help other filmmakers get SBA loans. After that, perhaps, he'll decide what he really wants is to
direct.
|
