Trying out more exotic techniques

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Date: Oct. 1994
From: Inc(Vol. 16, Issue 10)
Publisher: Mansueto Ventures LLC on behalf of Inc.
Document Type: Brief article
Length: 419 words

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THERE'S MORE TO RAISING CAPITAL THAN TAPping bank loans or selling equity, as Steve Marks can attest. The president of Main Street Muffins has pushed his eight-year-old Akron, Ohio, company to $8 million in projected sales and two listings on the Inc. 500 by pursuing nontraditional sources of capital.

Marks has displayed a remarkable sense of financial savvy from the beginning. His first financing package--in 1987--was a 20-year loan for $175,000, subsidized by the City of Akron at a fixed interest rate of prime minus 3%. The loan was supplemented by a $25,000 grant from the city. In 1990, as the company outgrew its...

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Gale Document Number: GALE|A15778431