Process Overview

Let’s take the first step into turning your idea into a business reality.

Step 1: Fill Out a Short Form

To begin the funding process, click here to fill out a short form that asks you to briefly describe who you are and why you need Ben Franklin funding. For example, perhaps you are in the process of developing a new software application that you want to commercialize, or maybe you are a small contract manufacturer with an idea for developing your own proprietary product. There’s no need to tell us anything you feel is confidential – just a quick overview will do. A Ben Franklin representative will then contact you to talk about your project. During that meeting, our rep will walk you through our process, the match requirement, investment strategy, etc

If, before you fill anything out, you’d rather ask a Ben Franklin representative a few specific questions about our program or process, no problem. Simply phone the local field office which is closest to your location and we’ll be happy to set up a meeting to talk over your business idea. You don’t need to have a full-blown business plan, but a summary of what you are developing, the problem it will solve, and the market it will serve is a big help.

During that meeting, our representative will walk you through our investment strategy, how and when the money is dispersed, the reporting requirements, and the payback process.

Step 2: Presentation

If everyone agrees that our program is a good fit for you, and you are comfortable moving forward, you’ll be asked to make a “pitch” by videoconference to the rest of the staff – we have satellite offices in four locations. Your BF rep will show you how to fill out our investment summary and also help you craft a presentation. If your pitch is well received, you will be invited to fill out a formal application for funding that will be submitted to our board of directors for approval. Typically our board meetings are held on a quarterly basis.

Investment Summary

 

Step 3: Formalization

After the Board makes its decision, you will be notified – usually that day – about next steps. If your project was approved, our Operations Director will send you a contract to sign along with the schedule of when you can expect your checks.