Cofolio was a featured company on the front page of the Houston Chronicle’s business section (Feb 3, 2011). Houston is known for energy, but the city is also building a budding technology sector. The world’s oil capital is home to scores of hopeful entrepreneurs developing new websites, software, medical devices, clean technologies and other innovations… Cofolio • URL: mycofolio.com • Elevator pitch: Crowd-funding for small businesses. • The idea: Tight lending markets have made funding harder to get for small businesses. Cofolio’s site, once it fully launches, will allow businesses to post profiles and pitches online. Cofolio then screens companies to ensure they are real. Interested investors can contact businesses they’re interested in helping fund. “At the same time we feel individual investors, because of the financial crisis, are growing weary and distrustful of financial markets and are looking to put their money into something tangible that they can understand and preferably look at so they can touch and feel it,” founder Sam Mar said. Since investors will be local, they’ll in turn likely be the biggest advocates for the … Continue reading
From 2000 to 2008, the National Association of Government Guaranteed Lenders (NAGGL) reports that lenders made 566,437 SBA loans to small businesses, totaling almost $116 billion. Full service and limited service restaurants received the largest portion of loans, garnering 5.1 and 3.8 percent of the borrowings, respectively. The average size of the SBA loans was just over $204,000. However, loan size varied greatly across industries. Blood and organ banks, for instance, borrowed an average of just less than $23,000, as compared with hotels, which had an average loan size of over $860,000. On average, the failure rate of the loans was just shy of 12 percent. However 82 industries had no loan failures between 2000 and 2008. At the other end of the spectrum, all five loans to motor home manufacturers failed. Similar variation was present in industries with a more sizable number of loans. Several industries with more than 50 SBA loans had no loan failures between 2000 and 2008, yet shellfish fishing, which had 243 loans over the period, saw 75.7 percent of them fail. The pattern was … Continue reading
Cofolio elevator pitch presented by Sam Mar. from The Businessmakers.