Our Crowdfunding Network Is Growing Part 42

Our operating agreement for equity-based Inner 10 Capital deals is now complete save comments from investors.  This will likely evolve over the next few years a bit, but we have something functional to replace our JV agreements going forward.  It certainly was harder and took longer than anticipated.   

The securities folks have blessed our ad material to start soliciting funds from lists of doctors.  Our current iFunding debt raise is floundering a bit.  We have pretty much decided to stop doing debt raises for a number of reasons.  Our bank lines are increasing so there really isn't much utility in continuing raises this way.

The website is ready, but we're working to hook up the reasonableness check APIs along with VerifyValid machinery for accepting funds.  BancBox proved to be too expensive for us and I was not at all happy with their services.  We need some back-end software to handle K1 distributions, etc.  This shouldn't be too hard to integrate when we find the correct vendor.

My hope is that we can cut our teeth on a raise in September after we populate old deals on our site.  Things have taken much longer than expected though so I wouldn't be surprised if this slips to October at the earliest.  We still have the option to integrate with FundAmerica and I am still working with iFunding on a possible alternative arrangement too.  We'll see what wins out as the best option of the ones presented.  These are all good problems to have ;-)