The second week of August brings an interesting mix of leading investments, including a unique lending group Able Lending. Able Lending targets the 5 million small businesses in the United States that create two-thirds of all jobs and employ over 50% of the workforce, but of whom three-fourths can’t access credit they need to grow their business.
Able solves this problem with a novel loan structure. Small businesses can obtain 1, 2 or 3-year term loans up to $250,000 starting at a low-interest rate of 8%--but with a twist. Borrowers must first raise 25% of the loan from friends and family, called Backers, who then join with Able as lenders in the loan to the small business.
Another interesting addition to the top 10 list is Sonoma Cider, who produce a full line of organic hard ciders in the heart of the California wine country (which makes for an interesting twist on the regular wine country road-trip). Sonoma ciders are gluten-free & sulfite-free with no added preservatives. The company is raising funding on the CircleUp Platform, who, like Able, are passionate about consumer entrepreneurs who are struggling to find the support they need to grow their brand.
Meanwhile, the top three investments that continue to dominate the list are EasyAsk Technologies, an ecommerce tech company, Zealot, a digital media company, and Rani Technologies, who are transforming injection drug delivery.