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Wing And A Prayer

Sock it away, the perfect proposal, earth angels, loans in a

This story appears in the November 1999 issue of Business Start-Ups magazine.

Angel networks are forming in locales around the country to identify small businesses worthy of financial blessings. From informal breakfast groups to broker-forged entities, these networks fill a need among high-tech start-ups that have exhausted their personal financial resources--family, friends, credit cards--but don't yet qualify for venture capital funds. However, the operative term here is "high-tech," virtually a universal condition for this type of angel funding. (, an angel network in San Diego, is one such entity. It's made up of a group of private individuals who invest their own money, in amounts ranging from $50,000 to $500,000.

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