Nashville Capital Network secures bank sponsors

Nashville Capital Network, a nonprofit that assists fledgling companies with early stage angel investor financing, has for the first time in its two-year history secured bank sponsors.

First Tennessee Bank and Bank of America are among a number of companies that have recently combined to assist NCN, according to Sid Chambless, NCN executive director.

“We really have increased the diversity of our sponsors, which shows we’re impacting more of the community,” Chambless said.

Chambless said First Tennessee and local law firm Boult, Cummings, Conners & Berry PLC are becoming full sponsors and will provide financial support in the five-figure range.

Bank of America has become an underwriter, with Kraft CPAs, Marsh USA, SSM Partners, Bowne Printers and DillonBrooks Financial Services now patron sponsors.

“Nashville has traditionally been a good place for later stage venture capital,” said John Titus, a Boult Cummings attorney practicing in mergers and acquisitions, venture capital and securities law. “The city needs early stage and start-up venture capital support like NCN provides.”

Since its inception two years ago, NCN has helped establish funding rounds for Protein Discovery Inc., The Enliven Partnership, Capital Confirmation Inc., Pathfinder Therapeutics Inc., Smartvue Corp., Horizon Resource Group Inc., Tricycle Inc. and Plumgood Food.

Other NCN sponsors include Vanderbilt University Owen Graduate School of Management, the Nashville Technology Council and the Nashville Health Care Council.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.