SenSolve, a classic venture capital situation, has created an innovative product, and is in the process of creating a new market. We had no record of sales, so a regular bank had no way of seeing a traditional track record. We wouldn't have passed the first screening, the first test. He started out by borrowing some money against his car, but that was a very limited amount of money and it didn't take long for him to realize that he needed more money. Unfortunately, the slowdown in the economy over the past few months has also slowed the progress of our sales.
Venture capitalists are interested in large returns, because they're taking large risks.
As a matter of fact, I entered it in the New Business Challenge that's sponsored by KKOB radio and the Albuquerque Chamber of Commerce, and won second place that year. I went with my plan to see Bob. His business has a dozen employees and two locations in Albuquerque, and is working on adding other locations. Celebro Natural Fiber Clothing had been in existence about three years before Melinda and George Kenesic transitioned their venture into the retail clothing business seven years ago. Prior to that, the company manufactured and wholesaled natural fiber clothing for large-size women.