Posted by Lisa Hochgraf
I get a lot of press releases across my desk every day. This one stood out:
"With few banks able to lend money, cash is king, and it seems that private money is seeing a ton of interest from entrepreneurs and business in seek of capital. RaiseCapital.com is an online community which allows private money to seek deals…and they are seeing tremendous growth and deals done, as traditional financial outlets are closed due to the markets.
"The site works by connecting entrepreneurs and investors through online social networking, allowing anyone seeking start-up funds, or capital to grow their businesses, to pitch their ideas to potential investors via text descriptions, photos, and streaming videos. Investors can then sift through business ads, evaluate them, and collect contact information for those that catch their interest.
"Whether a technology company, golf course or biodiesel plant, from $100K to $20MM projects, more and more entrepreneurs are turning to RaiseCapital.com as an alternative to bank loans in today's tumultuous economy."
If you check out the Web site, it's very much a social community for business owners and venture capitalists. Will such a thing fly in today's economy? Would a business owner be better off getting a loan from their CU?
