SoMoLaunch Competition Encourages Entrepreneurs to Put Their Best Foot Forward

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Winner of business competition to receive $5,000 to fund expansion, equipment upgrades, promotional materials, or other business needs.

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We want to encourage innovation and recognize small business owners and their hard work. This is our way of lending a hand to the entrepreneurial community.

Are you an existing small business with the next great idea? Do you need more funding to get to the next level? SoMoLend (http://www.somolend.com) wants to give you the chance to win $5,000 towards funding your dream.

SoMoLend announces its first business competition—SoMoLaunch http://www.somolend.com/Competition.aspx. Registration for the SoMoLaunch Business Competition is open now, and will close September 30th. Applicants will be evaluated based on their business model.

The Winning Company Will Receive:

  •     A $5,000 cash prize
  •     National publicity
  •     A mentoring session with SoMoLend founder and successful serial entrepreneur Candace Klein
  •     A public Web jam session announcing their win and prize presentation.

“There are so many talented entrepreneurs out there with fantastic business ideas, but gaining financing might be the hardest obstacle they face. We want to encourage innovation and recognize small business owners and their hard work. This is our way of lending a hand to the entrepreneurial community,” said Candace Klein, Founder and CEO of SoMoLend.

To enter the competition or to view competition rules, visit http://www.somolend.com/Competition.aspx. Requirements for entry include a fully developed business plan, completion of all sections of the SoMoLend application with contributions from all company owners, completed financial statements and financial projections, a viable business model, and evidence of research.

SoMoLend has formed a board of entrepreneurs, investors and business consultants who will review each SoMoLaunch Business Competition application. Points will be awarded for each required element, and extra credit will be awarded for social media involvement, community involvement, photos of the business or product, and a compelling business summary. The business with the most points wins.

To qualify for the prize, contestants must be an incorporated entity (corporation or LLC) and they must submit and publish a loan application. For additional information, visit http://www.SoMoLend.com, email info(at)somolend(dot)com, or call 855-766-6539.

SoMoLend is an alternative borrowing platform that offers new solutions for small businesses to obtain the money they need to launch and sustain their operations. SoMoLend’s software is designed to use the Web to match borrowers with lenders, connecting business borrowers with investors looking to make a return on investment. The SoMoLend website is currently live. Small business borrowers nationwide are encouraged to sign up today. For more information, visit https://www.SoMoLend.com/, or http://www.facebook.com/SoMoLend.

To learn more about SoMoLend, as well as the crowdfunding industry, visit the SoMo blog at http://somolend.wordpress.com/.

About SoMoLend
SoMoLend is a Web-based lending platform that uses patent-pending technology to connect small business borrowers with individual and organizational investors (lenders), executed within a hyper-localized geographic scope. SoMoLend’s user-friendly technology allows small business borrowers to obtain loans from friends, family, customers, community supporters, and interested organizations, as well as from Facebook, Twitter and LinkedIn connections. For more information, visit http://somolend.com/ or http://somolend.wordpress.com/.

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