CircleUp, a major equity crowd funding U.S. website, has collaborated with SoMoLend, an innovative debt borrowing platform, to assist small businesses in gathering growth funds in a more competent manner. Small businesses will be able to locate the finest resource of capital for their exclusive circumstances as a result of this association.
While micro-loans are offered by SoMoLend, equity investments are made possible by CircleUp. SoMoLend and CircleUp will share information, best practices and offer joint-training, thereby assisting the customers who require debt or equity offerings.
A network of accredited investors across the country is utilized by CircleUp to assist small businesses gather expansion funds. Consumer and retail organizations, which were previously under-represented by Venture Capitalists and Angel Investors, are now the focal point for the company.
In a release, Ryan Caldbeck, CEO of CircleUp said, “We started CircleUp to help great consumer brands find the capital they need to grow. Partnering with SoMoLend provides us another resource to offer businesses, when a loan is preferred to an equity solution.”
Candace Klein, CEO of SoMoLend, launched the organization in 2011, after she recognized the increasing requirements of small businesses in terms of lending resources. Corporations and institutions, who are interested in investing locally and with a purpose, are linked by SoMoLend’s technology with credit-worthy businesses.
Klein said, “Finding financing can be very difficult for many startups and small businesses. This partnership with CircleUp will allow both companies to more effectively serve entrepreneurs and small businesses by giving them access to additional funding resources so they can find the right fit for their business and operate successfully.”
Individual investors are linked with budding private organizations through the equity-based investment platform, CircleUp. Companies of interest can be reviewed by investors using the tools offered by CircleUp. Investors can also utilize CircleUp to gather information related to the management team and finalize their investment.
Small business borrowers can associate with individual and organizational investors through the online lending platform, SoMoLend. Small business borrowers can not only acquire loans from friends, family, customers, community supporters and concerned organizations, but also through Facebook, Twitter, and LinkedIn (News - Alert) connections with SoMoLend’s easy to use technology.
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Edited by Brooke Neuman