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Startup Funding

Two SE Iowa Companies Awarded State Funds [Video]

Rows on the field. Agricultural landscape in the summer time On Friday the Iowa Economic Development Authority (IEDA) Board approved awards to four startups, including two in southeast Iowa. The Agenda. Period, Inc., doing business in Brighton, created an application to better understand the four phases of an individual’s menstrual cycle. The planning system and […]

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Startup Business

Crypto Startup Offers 10% Bounty After $190 Million Hack [Video]

Crypto startup nomad has been hacked for over $190 Million. Crypto startup nomad is offering a bounty of 10% of hacked funds for retrieval of the $190 million.SOCIALS: https://withkoji.com/@JcTheInsider————————————————————————————————————————–DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting JcTheInsider so I can continue to provide you with free content each week!#finance #personalfinance #money #financialfreedom #financetips#business #investing #financialliteracy #entrepreneur #financegoals#budgeting #wealth #financialindependence #investments #financialplanning #savings #financialeducation #personalfinances#success #budget #moneytips

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Startup Business

$10 BILLION SSBCI FUNDING FOR SMALL BUSINESS | 14 STATES APPROVED | SHE BOSS TALK [Video]

#stimulusnews #stimulusupdate #funding$10 BILLION SSBCI FUNDING FOR SMALL BUSINESS | 14 STATES APPROVED | SHE BOSS TALK14 states now approved for State Small Business Credit Initiative (SSBCI). The new version of the SSBCI program provides a combined $10 billion to states, the District of Columbia, territories, and Tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic. The funds will also support recipient jurisdictions in promoting American entrepreneurship and democratizing access to startup capital across the country, including in underserved communities. ………………………………………………………..📌BECOME A CHANNEL MEMBER, get exclusive benefits 👉https://bit.ly/joinytembership……………………………………………………….📌Reference SSBCI Program👉 https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbciProposed Programs & Contacts👉https://home.treasury.gov/system/files/256/List_Proposed_Programs_Contacts.pdf………………………………….📌CARES ACT Employee Retention Tax Credit (REFUNDABLE) up to $26,000 per W2 employee. There’s $400 Billion federal funding available. Average credit is $26,000. See if you qualify👉 https://bit.ly/ertchelp…………………………………………………………GRANT MONEY RESOURCES😀Grant Application Training: Step-By-Step Process To Winning Free Money ➡️➡️ https://payhip.com/b/qN31p😀Win Grants with Ease Masterclass Bundle➡️➡️ http://bit.ly/sbtwingrants😀Yay!! The Winning Grant Application Cheat sheet & Checklist is here!➡️➡️ http://bit.ly/sbtgetgrantsnow😀Here is the SMALL BUSINESS RELIEF AND GRANT TRACKER. Updates are made weekly.➡➡️ https://bit.ly/shebossgranttracker………………………………………………………..COURSES TO HELP YOU PROFIT BIG📌Make massive impact and money with your YouTube channel, get my YouTube Creator Masterclass today!➡️➡�� https://bit.ly/getyoutubeprofit📌MBE Certification Masterclass Bundle – Get Gov’t Contracts & Grants➡️➡️ http://bit.ly/mbecertbundle📌Attraction Marketing Masterclass – Build a pipeline of clients online➡️➡️ https://bit.ly/attractyourclientsonline…………………………….GET FUNDING UP TO $25K SAME DAY APPROVAL! No collateral needed. No hard credit pull. ➡️➡️ 25kfundingtoday.comMust have….✔550 credit score���$5k+ monthly sales✔6 months in business.✔Business Bank Account in business name✔ EIN (Business Tax ID)………………………………GET BUSINESS LINE OF CREDIT PROGRAM UP TO $100,000. One year in business, 550 + credit score, $15,000/month revenue. It’s here when you need it. See if you qualify. ➡➡ http://www.getbizcredittoday.com………………………………DIVVY CREDIT & BUILDER PROGRAM will help you grow your credit profile and will scale with your business. Check it out here 👉 https://bit.ly/divvybuildcredit………………………………📌Get ConsultationFor funding maximization, business and marketing strategy 👉 https://bit.ly/shebosspickmybrain………………………………Follow ➡️ facebook/shebosstalkSubscribe ➡️ bit.ly/SheBossTalkYouTube

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Startup Business

What happens if a startup defaults on a convertible note [Video]

What happens if a startup defaults on a convertible noteDoes your VC-backed startup need help to manage your books, burn, and projections? Kruze’s clients have raised over $10 billion in venture funding – find out how we help companies fly through diligence and raise the next round: https://kruzeconsulting.com/startup-venture-capital-finance-experts Hey, it’s Scott Orn of Kruze Consulting, and today I’m answering the question, what happens if a startup defaults on a convertible note? So a lot of startup founders use convertible notes to raise money. The convertible note is basically a debt instrument where it’s usually good for 18 to 24 months, then it needs to be paid back. And usually, there’s a valuation cap, which kind of functions as like the conversion number, so when people put money in, that’s usually their effective valuation, assuming the company raised more money later at a higher valuation. So that’s convertible notes. And they are debt, and so it’s interesting because this question is exactly why SAFE notes were created by Y Combinator and some of the leading Silicon Valley law firms. Basically, once in a while Y Combinator saw convertible notes being abused by angel investors and demanding their money back. Now, what’s interesting is you can be an angel investor, you invest in a startup, in a convertible note, the company’s going to spend the money. They’re going to build their software, or their solution, or help the drug development, whatever they’re doing, and actually spend that money. And so, say the company hasn’t raised more money, so the debt doesn’t automatically convert, and you, Mr. and Mrs. Angel Investor ask for your money back. Well, there’s no money to pay you. The money’s been spent. So there’s kind of like the practical aspect of this, which is the company’s out of money anyways, and there’s not much that can happen, but there is, sometimes there’s value in the company. Either it’s going to get bought or sold, or it’s on the verge of raising more money, but the angel investors are using the note terms to pressure and try to get more money back. And so they can do that. If you are a creditor and you can find, I think it’s two or three other creditors that have not been paid back in a respectful amount of time, you can petition to try to put a company into bankruptcy, but there’s a whole process with that. So that’s like the super extreme version of what could happen if there’s a bunch of notes, and maybe the lawyer’s not paid, and the water person’s not paid, and the gardener, and maybe some of the software developers aren’t paid, then all those creditors together can petition to put a company in bankruptcy. But more practically speaking, what happens is the angel investors will kind of try to get their money back, threaten a lot, but whenever this usually happens, usually the company’s kind of run out of money already and so there’s nothing to give back. I should say that 99% of angel investors and seed funds will just extend the notes. So you get your kind of 18 to 24 month typical note time period, and if the company’s making progress and it’s not going to get liquidated, isn’t going to go bankrupt, and good things are happening, the founders usually just go back to the investors and say, “Hey, can you extend this another year or another six months? I need a little bit more time to close a fundraising and then your notes will auto-convert.” So it is a very tiny problem abused. This leverage created by notes abused by like, not even 1% probably, but it does happen, and so that was one of the main things that YC and some of the law firms were trying to address with SAFE notes. SAFE notes are not debt, they are equity. There are some clauses in them now where they say like, you got to pay the investors back first, but there’s no kind of trigger. There’s no term that says this has to be paid back on a certain date like there is in a convertible note. And so that’s how SAFE notes protect founders from this like, pressure that investors can exert when a note has passed its maturity date and hasn’t been paid back. So I hope that helps. A little bit of a complicated question, but it’s probably interesting to know how convertible notes and some of the very small but that happened abuses led to the creation of SAFE notes. Hope that helps. If you have other questions on seed funding, or series A funding, or anything else with accounting and tax, hit us up at kruzeconsulting.com. And if you don’t mind, please subscribe to our YouTube channel. We’d appreciate it. Thank you.