Festivals abound in October
October 19, 2011
Grand Réveil Acadien!
October 19, 2011When companies need capital to launch a new product or service line, turning to an investor can be just the right solution. But if your friends and family don’t have the dollars you need, where do you turn?
How about to an angel?
Soon in Terrebonne Parish, the answer could be to a new chapter of the South Coast Angel Fund LLC, a member-managed angel capital fund whose mission is to invest in, mentor and support entrepreneurial and early-stage companies in the region. The fund provides structure through which the entrepreneur and growth-oriented companies can obtain significant capital to fast-track operations or projects.
In an effort to launch a chapter, Terrebonne Economic Development Authority on Nov. 3 will be hosting presentations by the South Coast Angel Fund aimed at attracting the interest of potential angel investors as well as those entrepreneurs who may need a significant infusion of capital.
The benefits of establishing such a fund are multiple for the local economy. For the investor, it is an opportunity to potentially reap a significant rate of return. With extensive due diligence exercised by the member investors, angels may earn a return of seven to 20 times their investment in less than five years. As an added benefit, the State of Louisiana has renewed the Angel Investor Tax Credit Program, which offers up to a 35 percent credit on the dollars invested toward income or corporate franchise taxes. The program, administered by Louisiana Economic Development, has certification requirements for eligibility.
Participating in such a fund also is a means of contributing to the general increased health of the local economy as smaller companies are granted the financial ability grow and hire more employees while circulating those dollars through the community.
For an entrepreneur, an angel fund offers another source from which to seek capital for the launch or expansion of a dream that leads to personal and professional success and increases the vitality of the business community.
To be considered for investment by the fund, a company is evaluated on several factors including its management team; market opportunity; growth potential; and presentation of a finely polished business plan.
South Coast Angel Fund will be in Houma Nov. 3 to speak with interested entrepreneurs as well as potential investors. The entrepreneur session will be conducted at 4 p.m.; the investor session will be held at 6:30 p.m. Seating is limited and by invitation.
To attend either presentation, call Lisa Maloz at the TEDA office, (985) 873-6890.
