September 20, 2008

“Fund Yourself”

Virgin Money. . . so suggests Richard Branson, billionaire entrepreneur behind the Virgin brand of companies including the newest FundingUniverse partner, Virgin Money. No hypocrite, Richard practiced what he preaches in the early days of Virgin Records when he took a loan from his Aunt Joyce to keep the then struggling business alive. Virgin Money helps other entrepreneurs do what Richard did by managing and formalizing loans between individuals—typically people who are already closely affiliated like family members or friends.

This isn’t an uncommon practice. Friends, family and fools (FFF) financing, as it’s typically referred to, constitutes the majority of early-stage investments in the United States according to the most recent Global Entrepreneurship Monitor (GEM) report.

FFF is arguably the most flexible and easiest to qualify for type of financing because the terms are very negotiable and the qualification process is personal. And now, with Virgin Money, someone else can handle the awkwardness of collecting payments and the loan can even be recorded on the borrower’s business credit.

Here’s an itemized list of benefits:

  • A legally-binding promissory note
  • Repayment by electronic funds transfer
  • Email statements for both borrower and lender
  • Online accounts for both
  • Year-end reports for both
  • Private loan specialist to help keep your loan convenient and hassle-free
  • Optional security agreement and UCC filing*
  • Optional credit reporting to Dunn & Bradstreet at no additional charge

Our partnership with Virgin Money means you just need to find someone willing to loan you the money and we can help with the rest. Talk to the “Aunt Joyce”‘s in your social circle then give us a call.

For more information, call 877.638.3616 option 1 or click here.