It’s no secret; technological disruption is skyrocketing!
Twenty years ago the arrival of the Internet of Information changed our lives forever.
And, rapidly following that the Internet of Value and now the Internet of Things (IoT) & Blockchain have truly catapulted us into the Digital Age.
Our era brings with it boundless commercial opportunities. Yet, modern entrepreneurs are still stifled by old-school financiers and humankind is at risk of losing out on countless great innovations.
In steps Corl. Please continue reading to see how the revolutionary, revenue- sharing platform plans to marry good ideas with adequate financial backing in a win-win solution, for both, deserving early-growth businesses and keen investors.
Traditional business funding – an uphill battle
To date, even proven businesses have always had long and protracted battles just to access the necessary cash needed for fuelling development activities, organically growing their footprint or onboarding new and exciting, lucrative projects.
And, sadly, not much has changed in recent years. Even in our modern times, only 11% of enterprises have pursued alternative funding sources, which means that often the vast majority are still ending up in dead-ends; or, have no alternatives other than succumbing to user-unfriendly finance deals.
The lending models of banks and financial institutions have not kept pace with the capital needs of enterprises in our modern and accelerated digital landscape.
Partly, because the traditional financiers are used to serving a captive market and had no real incentive to change; but, to a large extent, also because the institutions operate under rigid laws and regulations. And, as we know, while tech evolves at lightning speed, legal frameworks typically take their time.
The standard process for business loans includes lengthy diligence reviews of between 2-6 months and sizeable establishment & placement fees.
Also, the institutions further have stringent requirements concerning collateral to secure the funding; and, personal guarantees from business owners is the norm.
Furthermore, loan repayment terms are inflexible, regardless of the enterprise’s ebb and flow cycles. And, any variations to the fixed schedule may negatively affect a borrower’s credit score and future funding prospects.
Early-growth businesses find it challenging to cope with the high funding costs, rigid loan structures and inflexible repayment rules discussed above; especially, during the fledgling years when the fragile and fluctuating nature of their development paths require nurturing and accommodative support.
And, even if young businesses opt to apply instead for funding in the venture capital market or through angel investors, the requirements may still be far less than ideal. The fundraising period may take up to 9 months, and enterprises are often required to dilute their control by signing over 20%-40% of the enterprise’s shareholding to the financiers.
Traditional business financing also largely excludes participation by the broader investors’ market due to a lack of suitable mechanisms; apart from, of course, the purchasing of shares in large public companies on open stock markets.
Corl has arrived to revolutionize business funding. Not only does it bring the mechanisms and protocols of raising capital into the modern times where they belong, but it also creates a global, decentralized platform that allows keen lenders –big and small- an equal opportunity to invest in great ideas.
What is Corl and why is it different?
Corl was founded in 2016 and is formally registered as Coral Financial Technologies Inc., a company incorporated in Canada. As such, Corl is governed by the Canada Business Corporations Act and the Country’s relevant financial securities laws.
And, Corl is a premium member of the Canadian Lenders Association (CLA).
Corl further complies with all global corporate requirements, such as International Financial Reporting Standards (IFRS), Know-Your-Customer (KYC), Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) stipulations.
Because Corl is a registered company, ownership entitlements and rights are arranged by means of shares. Corl proudly claims its place in history as being the world’s first company to offer crypto tokens as part of its official equity structure.
Owners of Corl’s CRL crypto token automatically categorize as Class B shareholders on the company register, which entitles them to profit participation by means of dividends; also, to share in the net assets of the company in the unlikely event of it being wound up.
Corl say that their philosophy is simple; entrepreneurs should have access to the capital they need to successfully grow their businesses at their own pace, hassle-free and without giving up equity. And, investors should have great peace of mind too.
The company serves the needs of both, entrepreneurs and investors, by combining two of the most recent disruptions in the online world, crowdfunding, and blockchain.
Corl believes that, when the interests of entrepreneurs and investors are aligned, that’s when real growth begins.
Corl sees itself as the long-term partner of business borrowers and has a vested interest in their success. The company has dubbed its approach “Capital-as-a-Service,” making funds available to viable early-growth enterprises as and when they need it.
Borrowers on the Corl platform can gain access to long-term growth capital within two weeks. Corl requires no personal guarantees, also no equity in clients’ businesses.
And, to make loan repayments affordable and flexible, the amounts are not fixed; instead, they are revenue-based thereby promoting pay-as-you-grow convenience.
Installments are calculated as a percentage of the actual business revenues as recorded in the financial records of the borrowing entity.
Further, for investors worldwide, the Corl platform brings an opportunity to participate in corporate funding, with affordable amounts, and in a simple, secure, crowdfunded way.
CRL token owners are automatic shareholders in the Corl company, which entitles them to participate in superior investment returns, regularly paid through a quarterly dividend.
And, investors have peace of mind because Corl’s loans to borrowers are supported by thorough diligence processes which are performed by skilled & experienced professionals.
How does the Corl system work?
To join Corl is an easy, fully digitized process which is done through the online platform.
Lenders access Corl through its Investor Platform portal where they can register their membership; also, purchase, manage and analyze their investments.
Investors can easily track their investments on the platform; updated information is always just one click away and includes the value of their ownership, dividend pay-outs, portfolio analytics, legal disclosures and audited financial statements.
When lenders make their investments, payments are made directly on the Corl platform, where it’s administered in an automated fashion using smart contracts. And, so are Corl’s quarterly dividend payments back to the investors.
Full information relating to Corl’s Investor Platform and Profit Distribution methodology is available on pages 13 and 16 of the company’s whitepaper.
Enterprises that seek funding may apply directly through Corl’s Business Platform portal. The application process is straightforward and takes around 10 minutes to complete.
To make it even easier and seamless, applicants can allow Corl instant access, utilizing a gateway to their own databases –e.g., accounting systems- for assessment purposes.
At the end of the application process, companies are provided with a pre-approval decision for funding, after which a stringent due diligence and review process commences. Depending on the availability of verifiable data, procedures may take 14 days to complete.
After the loan payments have been made to the successful applicants, repayment installments are automatically calculated by Corl with reference to the clients’ financial records and using direct bank debit order.
Borrowers may use the Business Platform portal to review their investment terms, manage disbursements, make prepayments, request additional funding and track their investment history. Please refer to page 11 of the whitepaper for more information.
The CRL token and Initial Token Offering (ITO)
Corl is conducting a fundraising event to acquire the necessary capital for the development, launch and ongoing support of its platform and services.
Funds will be raised through the selling of 1 billion CRL tokens to approved investors on Corl’s Investor Platform at 1 US dollar each.
CRL tokens may be bought and sold after the ITO by approved investors on the Investor Platform; such requests are administered and executed using smart contracts.
Company management and forward outlook
Corl is headquartered in Canada under the capable leadership of CEO & Co-founder Sam Kawtharani.
He is duly supported by a skilled team of 4 members and a contingent of 6 advisors, offering vast experience in technology, finance, and regulatory administration sectors; also, domain expertise in blockchain, lending, risk, and investment management.
You can meet The Team on Corl’s website, and further information is also available on pages 21-24 of the whitepaper.
Corl will be following an aggressive strategy to plow back profits for strengthening & developing the Company, thereby enhancing its resilience, agility, and forward outlook.
While 10% of net profits will be distributed to shareholders, 90% will be retained for growth and expansion purposes.
Corl has set out to resolve persistent, traditional business funding problems utilizing cutting-edge, modern tech solutions.
The platform successfully combines the ubiquity and global reach of the Internet & blockchain, with a state-of-the-art crowdfunding business model; thereby, putting to rest –once and for all- the countless frustrations represented by old-school lenders.
The Corl solution is sure to be embraced wholeheartedly by corporate borrowers and keen, global investors alike.