Even with the administration’s recent allocation of $30 billion to increase loans to small and startup businesses, many entrepreneurs seem to struggle to find sufficient funds. But for future business owners in California’s Bay Area, startup funds may soon be easy to find from a wider net of investors.
According to a report from the Sacramento Bee, investors from the Sacramento Angel group might soon increase the geographical span of their investments, recently having given hundreds of thousands of dollars to startup firm Reframe It in the Bay Area.
Some officials are confused as to why Sacramento investors are not necessarily investing closer to home, but the Sacramento Angels say they simply learned about the online network and they wanted to support it. Angels spokesman Terry Joslin said Reframe It appealed to the Angels as individuals.
While the investors claim to have plenty of deals in the works with Sacramento firms, the Reframe It funding might mean that entrepreneurs in the greater Bay Area region could also find funds needed for business incorporation soon.
In addition to looking for funds from local investors, small business owners might seek loans from community banks and learn about inexpensive incorporation services offered online to save some cash as they start their companies.