Small Business Finance - The State of Small-Business Funding

Thursday, September 7 2006 at 11:21

From banks to VCs, there's plenty of cash out there for entrepreneurs. But that doesn't mean the road to finding financing has gotten any shorter or smoother.

Bige Doruk founded Gaia Power Technologies Inc. at a doubly good time. Interest in energy storage and management products has soared in step with record-high oil prices. And opportunities to finance the growth of her New York City company, which manufactures devices to help businesses attain reliable backup power and reduce overall energy costs, have rarely been better. At 4 years old, the company has secured a total of $4 million from three separate financings involving a combination of angel and VC equity investments, a bank loan, and a grant from a state-government-backed research fund.

Read more in the Entrepreneur Magazine.