Archives from month » May, 2010

Enhanced Capital Funds Two Of The District’s Premier Establishments

The Park and Love, owned by Marc Barnes, received financing from Enhanced Capital Partners back in July, 2009:

Enhanced Capital, a national private investment firm participating in the District’s CAPCO program, has provided $300,000 in financing to two of the District’s premier establishments. The Park, a trendy four story restaurant and lounge, and Love, a sophisticated nightclub which opened in 2001, are both owned by DC visionary and entrepreneur Marc Barnes.

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Healthcare Plus Supplies, Inc. Secures $2.1 Million Texas CAPCO Funding from Advantage Capital

Through the Texas CAPCO program, Advantage Capital Partners has again invested in a local small business:

Advantage Capital Partners, a leading venture capital and small business finance firm, has provided $2.1 million in financing to Healthcare Plus Supplies, Inc., a newly formed durable medical equipment (DME) supplier that will provide quality products and services to local hospices and their patients. The funding, raised in connection with the Texas Certified Capital Company (CAPCO) program, will allow the company to create 17 jobs in the Dallas area and purchase the necessary equipment to proceed with expansion plans. Further growth is expected in the coming months, with the addition of two warehouses in Terrell and Greenville.

“The DME industry has been growing at a rapid pace, and Advantage Capital is pleased to be involved in this emerging sector as an investment partner to Healthcare Plus Supplies,” said Les Alexander, senior vice president at Advantage Capital. “This Texas CAPCO program funding will create immediate jobs in Dallas, with more growth expected as the company expands.”

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The $100,000 Business Plan Competition Kick-Off Event

On April 6th, Advantage Capital Partners and Enhanced Capital Partners hosted the Business Plan Competition kick-off event in DC:

The Office of the Deputy Mayor and the Washington, DC Economic Partnership (WDCEP) in collaboration with Advantage Capital Partners and Enhanced Capital Partners will kick off its $100,000 Business Plan Competition on April 6 from 6:00-8:00pm at the Washington, DC Economic Partnership’s office located at 1495 F Street, NW.

In its second year, this competition will award $100,000 of investment capital through the District’s Certified Capital Companies (“CAPCO”) Programto one winner.  In addition to the investment capital, the winner will also receive $10,000 worth of legal consultation from Venable LLP. 

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State’s CAPCO Program Generates Follow-On Funds

Small businesses in Texas look to their state’s CAPCO program:

In this time of unprecedented job losses, we are in need of economic development programs that can create jobs in the state of Texas.

When thinking of how best to address this problem, it’s important to note that according to the United States Small Business Administration, small businesses have created 60 to 80 percent of the net new jobs in the U.S. over the past dozen years.

Small businesses, however, are finding it tougher than ever in today’s lending environment to raise the necessary capital to sustain and grow their businesses. In fact, the National Venture Capital Association reports that venture investing in early-stage businesses is down 71 percent over the last 12 months. This has created a funding “gap” that is preventing the growth of small businesses, and subsequently hurting job creation.

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