Acceptx Receives 1st Equity Investment from County

Warning… I’m going to blow our own horn a bit….

I left the AAO meeting early to meet with an interesting government economic development group in Davis County (Utah). The group was formed years ago as a non-government entity, run by mayors and county commissioners (staffed by a county economic development expert) to help stimulate economic activity in the county.

To date the group has administered a loan program to provide local companies debt for expansion. Over the past year, as part of Grow Utah Ventures work with SEED Davis Morgan Weber, the board decided to employ the interest made from their lending to equity investments in early stage ventures. This is a bold move for the group, but one that can clearly produce positive results for the fund and for the county.

Wednesday I received news that Acceptx Financial Solutions, Inc. would receive the first equity investment from this group. They will join in our Series A equity offering which will be used to clear the long-term debt off the company’s balance sheet and as growth capital to continue to expand our sales efforts to keep up with the demand for our product.

Thanks to Craig Bott of Grow Utah Ventures for joining me for the presentation and for helping me navigate the process.

Be Smart!

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