Great article, Cheryl. In Pennsylvania, there are quasi-government organizations responsible for giving out economic development money in the form of favorable loans to small businesses that are convertible to equity.
Their involvement only begins with providing funds. Thereafter they work with business owners, sometimes quarterly, to assess the progress of the company. When they see something that may be an issue they call in help, usually in the form of a specialized consultant. They also help companies get additional VC money from their network of private investors.
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