LaunchCapital, a venture capital firm that provides seed-stage funding to entrepreneurs and small businesses announced LaunchCapital Small Business (LaunchCapital SB), a new company division created to help local entrepreneurs.
LaunchCapital SB aims to provide equity and debt financing up to $150,000 to businesses that:
– will generate near-term revenue;
– have linear growth expectations;
– have a local or regional reach;
– are currently unable to be served by banks and traditional venture capitalists;
– are in the earliest stages of development.
It offers a fair market interest rate, nonrecourse loan.
Over the next 2 years, LaunchCapital SB looks to extend its program into up to five cities throughout the country. It is launching its new business division with two east coast-based entrepreneurial clients as part of its growing portfolio.