“We have great friends that built apparel companies, restaurants, jewelry companies and services firms,” Baehr says. “They’re awesome businesses, and we’d be at dinner conversations with them — here we are talking about how we’re raising millions of dolla
Able recently struck an agreement that will enable the company to provide loans to 25 new companies in Austin. It’s aimed at bootstrapped businesses like hair salons, restaurants, breweries, bakeries and more. The company launched in July of 2014 and has
Today marks a milestone for Able Lending (see site) — we’re opening up our third cohort of loans, the Austin 25. It’s a commitment to fund 25 more amazing small businesses here in our hometown of Austin on the heels of securing new lending capital.
The brainchild of Harvard MBAs Will Davis and Evan Baehr, Able offers business owners one- to three-year loans of $25,000 to $250,000 at 8 to 16 percent interest—but with a twist: Borrowers must raise the first 25 percent of the sum from friends and famil
Able’s mission is to “empower main street entrepreneurs” so they can get a loan to build their businesses when traditional lenders have prohibitively high borrowing standards or sky-high interest rates.
Able will help to provide credit to smaller entrepreneurs using a method to price risk through what they’re calling “collaborative underwriting.” Though the name sounds like it might be leveraging the so-called “wisdom of the crowds” for something like pe
Able, a collaborative small business lender that they plan to launch in the fall. Small business credit has dried up, says Mr. Baehr. "Since 2008, the number of loans to small businesses under $250,000 has decreased 92%," and during the same period more s