Atlanta-based SouthCrest Bank closed a special loan under the Georgia Entertainment Industry Investment Act to support the new Sprockerfeller Films and 2020 Productions comedy “The Divorce Party,” which just completed filming in Savannah, GA.

The bank is providing partial production funding for qualified movie-makers under the act, which was passed in 2008 to give limited tax credits to production houses shooting in Georgia. SouthCrest Bank provides advance loans against those credits to enhance the studios’ cash flow during shooting.

Atlanta-based entertainment attorney Andrew Velcoff, with the Greenberg Traurig firm, represented SouthCrest on this transaction.

“We’re bullish on the movie industry in Georgia,” said Brian D. Schmitt, president and CEO of SouthCrest Financial Group. “Stepping up to help fund these productions is a great way SouthCrest Bank can get top producers and directors to look more closely at Georgia when they are considering shoot locales. It’s a win-win for the production house, the investors and the people of the State of Georgia.”

Schmitt added that SouthCrest intends to increase its exposure to the film industry by originating additional loans against Entertainment Tax Credits. “In addition, we will provide treasury management services to the productions we finance, and also will solicit banking products and services to the businesses supporting the film industry in our markets,” Schmitt added.

Written by Lane Garrison and Mark Famiglietti, “The Divorce Party” tracks a newly dumped divorcee (Thomas Cocquerel) who hires his former wedding planner (Matilda Lutz) to throw a divorce party celebrating his new single status after being left by his wife (Claire Holt).