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How many loans and what is the total exposure with IEDC? Any other lenders involved with Elevate? What is the potential impact to the early stage businesses whom Elevate provides funding? This article leaves me with more questions than answers.
I was an investor in a start up that Elevate oversaw and they were completely blind to helping to manage the rouge person in charge of the company. Needless to say, everyone lost money expect the “founder” who paid himself a nice salary as he continued to overstate expectations!