BreakAway Funding has successfully helped Full Circle Brewing complete a Reg CF crowdfunding round. According to the Breakaway website, Full Circle, Fresno, California’s longest running brewery, has raised $809,000. According to the filing with the SEC, the offer was seeking $1 million under Reg CF by selling 250,000 shares at $4 each. Additionally, Full Circle sought working capital and equipment financing to complete the funding round. The offering is said to be the first equity crowdfunded brewery west of the Rockies.
Kim Kaselionis, Breakaway Founder and Managing Partner, told Brewbound in January;
“We are extremely pleased to have been able to support this project. Full Circle is a thriving company in a high growth field with a loyal following, but, as with many young companies, traditional financing was not available from the outset. We were able to leverage CCM, our proprietary crowdfunding hybrid approach, with Title III (Regulation CF) of the JOBS Act of 2012 to make this happen.”
So what exactly is CCM?
The Community Capital Marketplace by BreakAway is a process that aggregates and leverages various resources in the community to provide growth capital that supports innovation and job creation. This means the crowdfunding platform can combine Reg CF securities offers alongside more traditional funding. In the instance of Full Circle, this meant a Small Business Administration (SBA) loan.
For participating financial institutions (ie Banks) by partnering with BreakAway they can establish new client relationships while converting existing non-borrowers into qualified borrowers. They can also maintain their relevance in a world where online capital formation will soon be the norm and not the exception.
This most recent offering by Breakaway, and partner Broker Dealer Nobles and Richards, was one of the larger Reg CF offers in January.
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