Crowdfunding pioneer blazes new funding path in St. Louis through loans

The founder of a unique debt-based crowdfunding platform will be in town Wednesday to to announce her enterprise’s entry to the St. Louis market.

Candace Klein, founder of SoMoLend, an online service that allows investors to lend money to small businesses, will be at the St. Louis launch event from 5-7 p.m. at Washington University’s Simon Hall. Klein also chairs CrowdFund Intermediary Regulatory Advocates (CFIRA), the nascent field’s industry group. Her Cincinnati-based company, an Olin Cup winner from last year, is promoting SoMoLaunch, a business plan competition which will give away grants of $1,000 to $5,000.

“It’s web 3.0 where not only are we connecting socially,” said Klein. “We’re connecting with each other financially.”

Read More at STL Beacon

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