Ross Halleck, a newer and well regarded Pinot producer who works with Russian River Valley grapes, is inviting anyone with some cash to spare to invest in his winery. He’s attempting to raise $25,000 in cash to fund their expansion from a few hundred cases to around 1500. I’d say more, but Halleck does a good job of hyping this interesting initiative. After all, his day job is as a marketer.
There has never been anything like it available before. Halleck Vineyard is participating in a revolutionary concept in micro-lending through a web site called Prosper (www.prosper.com).
Halleck Vineyard is reaching out to the community to borrow $25,000 to support our growth. As you know, we have ramped up tremendously in the past few years. In 2003, we released our 2002 wines of only 189 cases. This year, 2006, we are releasing over 1,500 cases.
…banks will not finance the future. They only look to the past and loan against performance and current inventory.
This is a very cool idea, though I wonder how successful it will ultimately be. I think that it stands a chance, ala the million dollar home page, to create buzz and attract attention and through that attention attract some dollars. However success largely relies on if the idea goes viral and spreads throughout the web.
I wish Ross the best of luck with his venture. Have a look if you have some Benjamins that you’d like to invest burning a hole in your pocket. Sadly for other wineries looking for some extra funding, I don’t think that this is a strategy that will be very effective the second time around.
Just like the million dollar homepage.
I think I know a mircolending company that can help you raise $ 25,000 for a Fee of $ 3,000 paid at the closing to be deducted to your loans. this loan is payable in 3 years or more. Do you have the capacity to pay back this loan base on your production to expand? If so, you miight have a chance to get this fund.