Maine Angels , Angel Investor Group in Bar Harbor, Maine

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The Maine Angels is an angel investment group founded by Charles Sidman in the state of Maine on October of 2003. It is composed of compelling individual members of veritable experiences in their respective fields of expertise. Most of these members had been or still are entrepreneurs or founders of flourishing companies or chief executive officers.

Member investors of the Maine Angels are accredited investors under the SEC regulations of the United States. They have an individual annual income worth $200,000 and above, or a joint annual income worth $300,000 and above, or a joint net worth of $1 million or more and share an annual investment of about $50,000 and a total of $100,000 on the first three years of membership. Membership applicants are usually referred or endorsed by existing Maine Angels members. All applications are subject to approval by the membership committee. Interested applicants should submit an application form, a resume, and pay an application fee of $1,000. Members actively participate in various group events such as monthly meetings for prospective company evaluations, and monitoring and mentoring of existing company investments.

As of date, there are already 31 Maine Angels member investors. These individuals share a common goal of spearheading economic advancement in their region by establishing and assisting new companies to achieve their full-blown potential. The group seeks companies in the early stage of development primarily located in the Maine area although investment opportunities in New England and other areas can also be taken into consideration. Candidate companies should also have a high potential for growth and profitability, can provide at least 35% of annual return of investment within five to seven years and have a strategically planned and viable exit. The group is not particular with a candidate applicant's field of industry. Companies engaged in any kind of business are welcome to apply.

A company that is interested in the Maine Angels' funding should submit a five-page executive summary. The specified format can be downloaded from the investment group's website. Applications can be sent via email provided also in the website. An application that does not follow the said format will not be given consideration. All submitted executive summaries will be evaluated by the investment screening committee. These shall then be endorsed to all member investors for further evaluation. After which, a meeting with the candidate company will be set for a thorough review of the business proposal. An invitation for business presentation will be given to the candidate company if the members have sustained their interest. Final investment shall follow after a company passes through all the stages of the screening process. The amount of funding given ranges between $100,000 to $2 million.

For the record, the Maine Angels have accumulated a total of 250 inquiries and applications, have evaluated 100 prospective companies and 10 company investments worth more than $1 million. They are also a member of the Angel Capital Association.

Maine Angels Website

The Maine Angels website provides extensive information that is entirely straightforward and self-explanatory. A sufficient overview about the investment group is given, as well as a description of its members. The process for investor application is also explained in a page, while the process for company funding applications can be found on another page. Guidelines and applications are available in both pages. These are available as Word documents or PDF files. Every page has an email link where applications and queries can be sent. A page exclusively for members is also within the website. It can be accessed through logging in with a username and password. In the resources and links page, there are links to news articles, as well as links to websites of companies that the group are partners or affiliated with and links to local company websites that are useful to any entrepreneur.

The Main Angels website is very useful to investor and funding applicants alike because of the very detailed information given in each page. All the important information that an applicant needs to know are all found in their website, and even provides further explanation. It also has a wide coverage that includes other significant business information.

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