Western Alliance forms entertainment lending group

Western Alliance Bancorp. in Phoenix has formed an entertainment and media group.

The $50 billion-asset company said on its website that the group offers "a wide range of banking resources to TV, film and music producers across North America with the ability to lend in multiple currencies."

Melanie Krinsky and Charlene Paling, who joined the company last fall, have already originated more than $300 million of loans, with another $100 million in the pipeline, according to Variety magazine.

Krinsky, a senior director, previously worked at Bank Hapoalim, according to her LinkedIn profile. Paling, a senior vice president, was also at Bank Hapoalim. 

The group’s client base includes entertainment production, talent agencies, producers, prop houses, post-production teams, distribution companies and streaming channels.

Western Alliance’s products and services include working capital, acquisition financing, management buyouts and debt refinancing.