Able Fund welcomes its first Indiana portfolio company to the family — The Halo App
Able Fund, a 501(c)(3) nonprofit that uses philanthropic capital to find and fund great businesses that aren’t served by the current funding markets, has found their perfect match — The Halo App. This Indiana technology startup is a private, peer lending community where Borrowers request up to $1,000 from Backers instead of banks.
Small businesses are the lifeblood and foundation of American economic life, yet entrepreneurship is on the decline. Able Fund wants to change that. As a new tool for economic development, it exists to help entrepreneurs and philanthropists work together to build durable, valuable businesses.
Able Fund targets startups that aim to build longstanding companies focused on solving meaningful problems. They assist founders with capital strategies, fundraising planning, tactical operational management, and patient capital investments. Able Fund uses philanthropic capital to provide deserving entrepreneurs with scholarships, enabling them to work with Investable — a capital strategy firm.
Through their work with entrepreneurs like Taylor Simpson Founder and CEO of The Halo App, and the generosity and leadership of local businessman and philanthropist Tomas Morales, Able Fund hopes to not only create a more vibrant startup ecosystem but also support founders who do not want to use traditional funding models.
Tomas sees charity as merely the transfer of wealth from the fortunate to less fortunate, but philanthropic stewardship as a wise investment that stimulates returns.
The Able Fund leadership team, which includes Tomas, his right-hand man, and former CSO at Morales Group Dan Nierste, Senior Fellow Steven Reynolds, and Richard Klopp, invites other philanthropists and business mentors to reach out and join them in this endeavor.
“Individually they are disrupting marketplace expectations. Collectively they are channeling this contrarian energy to scaffold regenerative economic ecosystems in times of overwhelming challenge. Energized by faith and engaged at what they believe is the intersection of Chronos (our time) and Kairos (God’s time) they see no need for going back to business as usual.” Steven Reynolds
The Halo App, an Indiana-based tech company that plans to return $1 billion dollars back to under-valued communities, clearly fits the philanthropic heart Able Fund was looking for.
Founder Taylor Simpson has also taken a very non-traditional route to finance his business.
“I self-financed my company for years because using your own money forces you to make your business sustainable,” says Taylor Simpson, Founder and CEO of The Halo App. “There is a fear that Venture Capitalists pressure you to build for acquisition. Companies like mine are impact-focused, so it’s helpful to be aware of other types of funding.”
We expect to see some amazing things from this collaboration.
About Able Fund
Able Fund is creating a way for philanthropically minded people in our community who care about entrepreneurship to very easily and cost-effectively use their tax-deductible donations to help local entrepreneurs gain access to resources to help them grow their businesses.
If you are a founder or a funder that would like to join the Able Fund family, please reach out to Rich Klopp at rich@ablefund.org.
About The Halo App
The Halo App is a private, peer lending community where Borrowers request up to $1,000 from Backers instead of banks or payday loans centers.
Founded in 2015, The Halo App uses proprietary technology and alternative risk scoring models to evaluate the financial health and trustworthiness of users to provide a safe environment where Backing and Borrowing can exist. Through The Halo App platform, thousands of people have discovered a new form of financial freedom. Schedule a Welcome Call with us to join our growing community.
Please visit our website.
For more information, please contact:
Founder/CEO, Taylor Simpson, taylor@thehaloapp.com
Note to editors: For more information, news, and perspectives from The Halo App, please visit Halo’s News Center.
