$4M in new funding to go to Canadian documentaries

(CBC) - Canwest Global Communications Corp. has donated $4 million to create two new funds that will support the creation of Canadian documentaries.

The new funds, to be administered by organizers of Toronto's Hot Docs Festival, will support filmmakers facing financial gaps at critical stages in their projects.

"Hot Docs is delighted to be able to expand our support of Canadian documentary makers in this very tangible and significant way," Chris McDonald, executive director of Hot Docs, said in a press release on Tuesday.

Independent filmmakers often get stalled because of lack of funding, especially with one-off projects that may not seem to have a ready market.

The full details of the funds won't be developed until June, but the plan is:

- $3 million for the Canwest-Hot Docs Completion Fund which will provide grants of up to $100,000 to producers who have already received a broadcast deal to complete their projects.

- $1 million for the Canwest-Hot Docs Development Fund which will provide a no-interest loan of up to $15,000 in early development stages to help get docs researched, written and ready to sell.

The first applications will be accepted this July and October.