The North Carolina Biotechnology Center launched their new loan program to support emerging biotechnology companies in NC. They now have the ability to match investments made by VCs and angel groups with loans as high as $250k.
Their loan programs have been very successful in the past. Here is one quick stat: Over the years, the NCBC has handed out a total of $16 million to 92 companies. Those companies have gone on to secure more than $1.2 billion in other grants, loans, matches and other funding.
With a state that is ranked #3 in biotechnology, I am thrilled to see the NCBC announce this initiative. They solicited input from a lot of the folks in the VC and entrepreneurial communities and I think this makes a ton of sense to help fuel further development.
I congratulate the North Carolina Biotechnology Center for taking the initiative again to launch their new loan program to help companies in NC. Those emerging companies need all the help they can get. Excellent work.
Posted by: Merchant cash advance | March 26, 2010 at 06:20 PM