How to actually use an Actor Letter of Intent

When I write about an Actor Letter of Intent (LOI) on LinkedIn, I’ll sometimes get pushback from other filmmakers, saying that an Actor LOI isn’t worth the paper it’s printed on.

“You can’t raise money with it.”
“It’s just talk.”
“Investors don’t care.”

And in many cases, they’re right. An LOI on its own isn’t going to magically unlock a checkbook or convince a name actor to block off six weeks for your indie film. However, it doesn’t have to be the end of the process. If you treat it as a stepping stone, an LOI can become a practical tool.

I’ve seen producers use them to build trust, generate momentum, and create a real bridge between talent and investors. That’s where the value comes in. Not as a golden ticket, but as leverage.

What an LOI actually means

First, let’s get clear on what a letter of intent really is.

When an actor signs an LOI, they’re saying: “I’m interested in this project. I like the script, the team, or the concept, and if certain conditions are met, I’d consider doing it.”

It’s not a contract. It doesn’t guarantee they’ll show up on set. It’s basically a non-binding note of interest. Which is why so many people dismiss it.

BUT, interest matters. In the early stages of development, almost everything you’re doing is about showing interest. Investors want to see that someone other than you believes in the project. Actors want to know that there’s a chance money will materialize. The LOI sits right in the middle of that tension.

If you understand how to use it, that middle ground is exactly where you can create movement.

The bridge between talent and money

An actor signs a letter of intent. They’re interested, but not locked in.
You take that to investors and say, “Look, there is interest. If we can put money into escrow, or you commit to investing once the actor fully attaches, we can go back to their team and show there’s actual financing behind this.”

Now both sides are seeing progress.

For the investor, it’s low risk. They don’t have to cut a check today with no guarantees. They can agree that their money only moves if the right actor signs. If the attachment doesn’t happen, they get their funds back.

For the actor and their reps, this is proof the project isn’t vaporware. There’s potential financing that can be triggered if they commit. It makes them more likely to keep leaning forward.

Suddenly, the LOI isn’t just a “worthless piece of paper.” It’s a pressure point that nudges both sides closer to a yes.

Why momentum matters

Every film lives and dies by momentum. If you’ve been in development for any length of time, you know the endless back-and-forth of “who’s on board first.”

Investors say, “We’ll commit if you land talent.”
Talent says, “We’ll commit if you land financing.”

The LOI doesn’t solve that chicken-and-egg problem, but it gives you something to point to in the middle. It’s proof of interest. It’s something you can hold up in meetings and say, “Here’s where we’re at, and here’s what needs to happen next.”

It’s not binding, but it’s not nothing either. It’s a foothold, and in this business, footholds matter.

The risks of playing it wrong

Before you run out and start chasing every actor under the sun for LOIs, a few words of caution.

If you treat the letter like it’s a signed contract, you’ll lose credibility fast. Reps can smell when a producer is exaggerating. Don’t say you “have” an actor when all you have is a letter of interest.

If you show the LOI to an investor but don’t explain the conditions around it, they’ll assume you’re bluffing. You need to be transparent about what it is and what it isn’t.

And if you use the letter as a trophy instead of a tool, you’ll stall out. The LOI only matters if you’re actively moving it back across the bridge: investor to actor, actor to investor, until one side decides to step forward.

The juggle of development

This is the game producers play every day. Running back and forth between talent, reps, financiers, and partners. Collecting maybes, getting them to turn into yeses, and trying not to lose momentum along the way.

It’s exhausting, but it’s also the work. And the LOI, when used correctly, gives you one more piece to juggle.

I like to think of it as the board game Chutes & Ladders. Sometimes you land on a ladder and climb up fast because an actor signs and suddenly investors start taking calls. Sometimes you hit a chute and slide back down because that actor books a Netflix show and disappears from your timeline.

The game is frustrating, but the point is to keep playing. Every time you pick yourself back up and make another pass across the bridge, you’re building credibility. You’re showing both sides that you’re serious enough to keep going.

An example in practice

Let me give you a simple scenario.

Say you’ve written a grounded thriller with a $1.5 million budget. You know you need one recognizable face in the cast to give investors confidence. You target a solid character actor with a strong TV resume.

Their agent reads the script, likes it, and says, “They’re interested, but we’d need to see financing before we move further.” Instead of walking away, you ask: “Would they be open to a letter of intent?” And you tell them why! You tell them, it’s your way to get the investor interesed too!

The agent checks, and the actor agrees to sign. Now you’ve got the LOI.

You walk into an investor meeting. You don’t oversell it. You say: “We have this actor interested. They’ve signed a letter of intent, and if we can put money into escrow, we can go back to their team with proof that financing is in motion.”

That’s not pie in the sky. That’s a very real, low-risk ask. The investor doesn’t have to commit blind. They can structure their money to move only if the attachment finalizes.

And suddenly you’ve turned a dead-end conversation into one that has movement. It’s the kind of scenario we dig into inside the Filmmaking Lab & Course, because learning how to walk through these conversations step by step is what turns theory into deals.

This is all about how you use the pieces you have.

In development, nothing is final until the check clears and the actor is on set. But that doesn’t mean the steps along the way are worthless. An LOI is only useless if you let it sit in a drawer. If you use it as a bridge, it becomes one more way to keep the conversation alive.

This business runs on trust and momentum. The LOI gives you a way to build both, even when it’s still early days.

Keep climbing

So no, you can’t walk into a bank with an actor’s letter of intent and walk out with a million-dollar loan. But you can use it to nudge investors closer, to reassure actors that the project is real, and to buy yourself another round of progress in the never-ending game of development.

That’s how producers I know actually play the game. They don’t treat an LOI as a final prize. They treat it as another ladder on the board. Something that might get them closer to the finish line if they play it right.

And in a world where every “yes” is precious, sometimes that’s exactly what you need.

PS: If you want to go deeper, the Filmmaker Lab is the easiest way to fund your film and avoid the traps that stall most indie projects. Details here

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