Finance And Female Entrepreneurs In The Entertainment Market

Seasoned lending veterans in the entertainment industry, Melanie Krinsky and Charlene Paling have teamed up to create the Los Angeles-based Entertainment & Media group at Western Alliance Bank.

The pair moved to Western Alliance in the autumn of last year to begin the process of setting up the entertainment lending arm of the institution. The new division has already put through $300 million in loans, with a reported $100 million in potential deals pending.

Entities within the entertainment entrepreneurial space are predominantly victims of habit and usually go to the same sources for funding, the heavy amount of loans given out already highlights a glaring need in the marketplace.

The pair have been working together since 2017 in separate companies. When they first met Paling had recently moved into banking for the entertainment sector from a career as an attorney, and Krinsky was summarizing her tenure at an LA entertainment bank.

Female writers and producers have statistically struggled to raise financing for projects and when they do are funded less than their white male counterparts. Paling and Krinsky aimed at not just correct this but take advantage of a massive area of ​​the sector that is underfunded with powerful stories and ideas.

Withing being a relationship-inspired endeavor the pair is so far enjoying their relationship with the bank.

Krinsky said on the bank: “Many people we talk with in the business haven’t heard of Western Alliance,”

“I love having a chance to tell them who this bank is. The first thing to know is that this is a national business bank with more than $50 billion in assets — and everyone here, up to and including the CEO, is excited to be getting into entertainment and media lending.”

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