Overview of the Proposed
AngelPreneur Jobs ACT
In an effort to help overcome the massive job losses due to the CCP Virus, known as the Covid-19 Pandemic, and fund its 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 Fund for impact driven entrepreneurs to use 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, simply provide 20% of their adjusted net profits, once earned to the fund as repayment, up to 150% of the total funds provided ($250 million returns $375 million to the Fund).
The business pays no interest on funds until it makes a profit, and does not lose any equity, so in most cases, the cost of this Grant is far better than traditional bank or venture capital funding. The business also retains 100% control of their operations, provide it does not file bankruptcy.
The Shark submitted it to multiple contacts in Washington DC, and has had some contact since directly with Congress regarding it. As government wheels turn slowly, we will see whether they move forward with our proposal or any of its intended provisions. The ACT as presented will be disclosed in upcoming PodCast and featured within the APVG/CBO Business Plan when released in early November.