Dialing For Dollars

You can raise money from online sources if you know where to look

A handful of Web sites has cropped up over the last couple of years to help entrepreneurs locate funding sources. (These sources are accessible from the resource pages at blackenterprise.com.) Among the more visible capital-oriented sites are:
ACE-Net (Angel Capital Electronic Network; (https://ace-net.sr.unh.edu). Launched by the Small Business Administration, ACE-Net helps businesses seeking between $250,000 and $5 million from angel investors (private individuals). Businesses can post private placement offerings on the Web site.

MoneyHunt (www.moneyhunter.com). The Norwalk, Connecticut-based firm specializes in matching venture capitalists with business owners seeking between $250,000 and $10 million. It also offers online applications for lines of credit.

Capital Quest (www.usbusiness.com/capquest/home.html). Capital Quest allows entrepreneurs to post the executive summary from their business plans to attract private investors. .
Venture Information Network for Entrepreneurs (www.thevine.com). The Vine, based in Princeton, New Jersey, provides information resources used mostly by folks seeking venture capital and joint venture partners.

America’s Business Funding Directory (www.businessfinance.com). The directory lists the names of funding sources, including venture capital, grants and government funds.
Be prepared to present a solid business plan with plenty of supporting materials, and to disclose financial facts about your company. Everything has its price, so you’ll have to pay a fee for these services, generally $300-$1,000. Funding sources usually charge a fee to get listed on these sites.

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