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.
FinSMEs
28/10/2009
