LaunchCapital, a Cambridge, MA-based firm focused on early-stage financing, revealed today on its website that it has launched a lending option for small businesses. The firm plans to lend up to $150,000 to young businesses that are within six months of gaining revenue, and the deals would provide LaunchCapital with a small equity stake in the businesses rather than charging high interest rates to cover the risk of such loans, said Elon Boms, managing director of LaunchCapital. Boms writes about the gap in available financing that his firm seeks to fill with its new lending product.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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