As market spooks investors, Lighter Capital commits $500K to business funding countdown
Seattle, August 10th, 2011 – Lighter Capital, the small-business finance company, today started a countdown to fund up to $500,000 to an "explosive" business that applies by August 31. Applying companies must have the potential for "explosive" revenue growth.
"We heard the banks were tightening credit, so we decided to do the opposite. We have a clock ticking to invest half a million bucks in at least one company by 5pm PST on August 31." said Randall Lucas, VP of Lighter Capital. "If the banks aren't going to fund awesome, growing companies, we will, no matter what the market does."
Committing to invest funds during a market downturn may sound crazy to old-school financiers, but Lighter Capital has a history of using its innovative revenue-based finance model where traditional investors fear to tread. In June, they funded a $100,000 RevenueLoan® to TomatoBattle, an event promoter that produces massive tomato fights across the country.
"The Lighter Capital team said if I could get a bunch of people to pay me to throw tomatoes at each other, they'd fund my company." said Clint Nelsen, CEO of TomatoBattle. "It was refreshing to work with investors who could see past the messiness of tomato fights, to the growth potential of my business model."
"We love to fund weird companies that make money," said Andy Sack, CEO of Lighter Capital. "This promotion proves that even as credit markets fluctuate we're investing in small business, especially if they're explosive!"
Formerly known as RevenueLoan®, Lighter Capital is adopting the "Lighter" name as a company, and keeping the RevenueLoan® name for its financing product.
Lighter Capital is the pioneering leader in founder-friendly, non-dilutive financing. Since 2010, we have provided hundreds of millions of dollars in over 1,000 rounds of financing to U.S., Canadian, and Australian tech companies. Founders achieve success on their terms with Lighter’s tech-enabled financing which has no fees and does not require the company to give up equity. The application process takes minutes and requires no pitch deck. Beyond financing, Lighter’s “more than money” benefits provide founders access to invaluable connections within the Lighter Capital Community, resources, and product discount opportunities. Learn more and apply at https://www.lightercapital.com.
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