By Bea Quirk
CHARLOTTE — Faced with stringent underwriting standards, local entrepreneurs looking to fund their businesses’ growth have stopped turning to local banks for funding. Instead, they are looking to the angels.
Angel investors, that is. Although angel money is difficult to get — like any funding these days — Charlotte’s angel community is growing and becoming more structured. That’s good news for small business owners looking for expansion capital.
“No one in our universe is going to banks any more,” observed Paul Wetenhall, president of UNC Charlotte’s Ben Craig Center Business Incubator. “Even in good economic times, getting funds from banks was a challenge, and now the environment is even more unfriendly.”
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