These days billion dollar tech companies are no longer rare enough to be called unicorns. So many millions of dollars of VC money is sloshing around the city that you could be forgiven for thinking it’s easy for startups to raise money.
While giving a presentation on alternative financing options at the NYNJ Minority Council this summer, my colleague, Lewis Ross, of Chase Bank was asked why banks don’t finance early stage companies with contracts and why firms like Prestige Capital do. Lewis’ spot on answer; “because banks are historians and [read more]
When I was introduced to Mark Crames, founder of Demeter Fragrance, I was intrigued by his business and unique vision. With scents such as Vanilla Cake Batter, Grass, Rain, Dirt, Fresh Linen, Chocolate and Bubblegum, Demeter’s philosophy was to maximize the bond between scent and sense memory. If scent [read more]
After raising $10.5 million from investors last year, real-time Web and mobile conferencing firm CaféX Communications wouldn't seem to be the typical candidate for factoring. The financing approach—where firms sell their accounts receivable to a financial-services firm to get cash into their coffers more quickly—is much more common in [read more]
In large measure, many banks are not to blame for the obstacles small business owners face in obtaining loans. Rather, government regulators review bank lending practices, and, therefore, standards have tightened in recent years. There are, however, several commercial finance alternatives for business owners and entrepreneurs. These traditionally consist [read more]