- February 11, 2020
- Posted by: financenorth
- Category: Press Release
LOS ANGELES, CA, February 11, 2020 – FinanceNorth is pleased to announce the launch of a new investment and business support program for entrepreneurs and small business managers. Designed to bridge the funding gap for entrepreneurs, SME and development stage companies; FinanceNorth SPARKTM members will be provided access to immediate debt and equity financing, revenue and market growth solutions, and professional development assistance.
This initiative is focused on providing its members with five key initiatives for business and professional growth: Angel investment financing; Entrepreneur-in-residence; Mentoring and advisory; Collaborative financing; and Scholarships and bursaries.
Under the program, individual entrepreneurs will be eligible for up to $75,000 in angel investment financing while businesses may apply for up to $150,000. These limits will be increased to $100,000 and $300,000, in January 2021, at which time applicants can “top-up” the amounts they’ve previously received.
“FinanceNorth SPARKTM is an ideal first step in helping entrepreneurs and SME’s to realize their vision and build value in their businesses” states Thomas Monroe, the company’s Chief Investment Officer, “This program provides a viable alternative to traditional bank lending and creates a solid financial platform upon which to build and grow your company.”
In addition to the provision of angel investment funding, FinanceNorth is expected to establish the first of its entrepreneur-in-residence positions in April 2020, providing successful applicants with the unique opportunity of receiving full-time compensation and benefits, while working on their own business concepts.
To ensure the ongoing success of those individuals and companies receiving investment and financing from FinanceNorth, the program will also include a number of support services such as mentoring and advisory assistance, as well as scholarships and bursaries, to facilitate and promote skills development. For those companies requiring larger investment and financing solutions, to fund their business models and/or operations, FinanceNorth further provides members with access to private equity investment capital.
“I look forward to working closely with local chambers of commerce and regional economic development organizations to actively promote this program as a key tool for job creation with long-term benefits to economic development,” announced Adam Philips, the program’s director, “I welcome the opportunity to meet and speak with any organization looking to Register us in supporting this great program.”
For more information or to become a member of FinanceNorth SPARKTM, please visit us online at https://www.financenorth.ca.