Overview of the Proposed
AngelPreneur Jobs ACT
In an effort to help overcome the massive job losses due to the CCP Virus, also known as (aka:) Covid-19 Pandemic, and help us fund some of our own ventures, The Shark developed an exciting new proposal called the AngelPreneur Impact Driven Business Development ACT (the ACT). The ACT represents a self-funded private/public partnership program to drive national business development and job growth.
It calls for the Federal government to provide $10 Billion or more into a special Fund to assist impact driven entrepreneurs in their efforts to build their companies and create jobs, without having to give up equity or borrow from traditional funding sources. Those who receive non-recourse grants from the ACT Fund, would simply agree to provide 20% of their adjusted net profits, once earned as repayment, up to 150% of the total funds provided ($350 million returns $525 million to the Fund).
The business would pay no interest on the funds granted until it makes a profit, and never loses any equity, making the cost of this Grant far better than traditional bank or venture capital funding. The
business retains 100% control of their operations too, provided it does not file bankruptcy.
The Shark submitted this proposal to multiple contacts within Washington DC, and has had some contact since directly with a member of Congress regarding it. However, he is not holding his breath, as the rusty wheels of government turn slowly. We will see whether they move forward with our proposal or any of its intended provisions.
The ACT as we presented it will be disclosed in upcoming PodCast episodes and featured within the APVG/CBO Business Plan when released in early November, assuming we know who the President will be after the election.