The Royal Bank of Canada (RBC) has launched an initiative to address financing gaps for emerging Black, Indigenous and people of colour producers.

Titled the BIPOC Emerging Producers program, the initiative provides interim financing between $100,000 and $500,000 for “CRTC-approved broadcast content” with budgets between $500,000 and $2 million.

Eligible producers must self-identify as Indigenous or racialized; have at least one writing, directing or producing credit on a digital or TV project; and their production companies must be in operation for less than 24 months and/or the producers must have completed no more than two productions under their banner.

The focus of the program is to give emerging Indigenous and racialized producers access to affordable capital and “foster relationships with media financing specialists,” according to RBC.

Producers are encouraged to reach out to one of RBC’s media and entertainment specialists to learn more about application guidelines.

The initiative is aligned with RBC’s Emerging Artists program, a multi-year commitment that has invested more than $90 million toward training, networking and discoverability for Canadian artists. The bank adds in a statement that it has also committed $100 million in small business loans for Black entrepreneurs between 2020 and 2025.

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