Capital for the films that
shouldn't have to compromise.
A private credit and equity platform for independent feature film, scripted television, and documentary.
What we believe.
"Independent film is a craft business that needs craft capital."
We move at the speed of production. Greenlights happen in weeks, not quarters. Our underwriting is built around real production timelines — we close when the deal needs to close, not when the credit committee meets next.
We finance against what we can see. Government tax credits. Signed distributor agreements. Completion-bonded productions. We lend against the documents and the receivables that already exist, which means we can move on conviction without making you wait while we predict the future.
We don't pretend to be neutral. We back filmmakers whose voice we recognize. We say no often, but we say it quickly, and when we say yes we move.
The full capital stack —
every stage of production.
Tax credit financing.
Bridge state and national rebate programs from certification through payout. We lend against the credit, not the film.
Pre-sale advances.
Advance against signed distributor minimum guarantees and negative pickup agreements. Strong distributor paper, fast.
Gap and mezzanine.
The last piece of the capital stack, structured carefully and only where the rest of the stack is real.
Selective equity.
A small number of projects each year where we put real money behind real voices and stay close.
Single-deal advances from $100K to $8M. Larger transactions structured selectively.
From first call to wire transfer.
The call.
A real conversation, not a form. Bring the package, the budget, the cap table — we'll tell you the same day whether we're a fit.
The structure.
We propose a structure that fits your stack and your timeline. Term sheets are clear, short, and don't hide the economics.
The diligence.
We review docs, talent attachments, distributor agreements, and the production plan. Two weeks, not two months.
The close.
Standard documents, experienced counsel, and a wire that lands when it's supposed to.
A small team. On purpose.
Two Step Pictures was built by operators with backgrounds in private credit, film finance, and production. We've sat on every side of the table — borrower, lender, producer, financier — which is why we know how to structure deals that actually work for everyone in the room.
Eric Boshart
Hard money and private credit operator. Underwrote ≈$25M+ in secured loans at Parallel Lending with a 1% historical loss rate. Former VP at Three Point Capital covering indie film debt — sourced and underwrote $20M across 100+ titles spanning tax credit, pre-sale, and gap positions. Deep relationships with sales agents, filmmakers, and distributors.
Tell us about the project.
We read everything that comes in. The fastest path to a real answer is a short note with the project name, budget, current state of financing, and what stage of capital you're looking for. We respond within two business days.
eric@twosteppictures.com