Breaking Through Barriers
After founding Gloryous Productions, it was time to start looking for financing. Like many producers working in film, she turned to Telefilm Canada, a Crown Corporation with a mandate to finance and promote Canadian productions. Unfortunately, they turned her down twice, citing production schedules. Gloria persisted however, and Telefilm finally made her an offer.
I just kept going back to them. They were like, ‘Yes, Gloria, we want to support you, and if you go to a camera in the fall, come back to us and we’ll find a way’.
The catch? Financing would depend on whether or not she could float her own financing, for a few months until production of her feature was up and running.
Telefilm said ‘Look, we can give you cash in hand right now, a smaller amount, or you can wait for next year, and get the full amount you need, but you’ll need to float a loan in the meantime. Can you float a loan?’ I said, ‘You know what? I’ll float that loan and wait for next year.’ And like that, Gloryous Productions got a promise for all of the money we asked for!
With that promise in hand, it was time to look for financing. Gloria’s first approach was to ask some of the bigger players in the film industry for money.
I asked some bigger players in the industry if they would want to like partner with me, because they're much bigger production companies with way more access to loan money. Unfortunately, they were like, ‘Sorry no, it’s too late, we can’t help you.”
Rather than take no for an answer, Gloria approached TD.
Top 3 pieces of advice I would give to other female entrepreneurs:
Bet on yourself and take some risk
Create your own opportunities—don’t wait for others to hand you opportunities
Network, get out there and meet people, find the right partners