Monday, April 23, 2012
Green Flag Credit, LLC, receives Michigan Pre-Seed Micro-Loan
With the aid of the Macomb-OU INCubator, Green Flag Credit, LLC, has secured a Michigan Pre-Seed Micro-Loan through the Michigan Economic Development Corporation (MEDC) for their B2B internet technology service platform, Green Flag 2.0. The focus of Green Flag Credit is to advance and accelerate online digital marketing capabilities for retailing motor vehicles.
The Green Flag 2.0 addresses and solves issues related to tracking metrics on car dealership websites, so dealers can convert visitors to actual sales. The Green Flag Credit system tracks the number of website visitors and answers key questions for new car shoppers, such as available new car rebates and incentives, trade-in value estimator, payoff amount upon trade-in, trade-in equity position, pre-qualification and pre-qualified payments. While the prospective customers are obtaining the answers to these questions, critical lead data is populated to the dealership so that representatives can follow up to assist with the actual trade-in appraisal, sale and delivery process. The result will be more opportunities and more delivery.
"Chuck Wood, president of Green Flag Credit, LLC, is a well-established Detroit-based businessman with an incredibly strong mix of automotive and software development experience. Green Flag's software is a very unique, cost-effective marketing tool for dealers to get measurable results from their websites and existing traffic,” said Mike Brennan, Macomb-OU INCubator’s Business Commercialization and Capital Investment Advisor. “It was a pleasure to work with Mr. Wood in assembling his application, we're thrilled we could help him to get the initial funding and look forward to assisting Green Flag further as the company grows."
The Michigan Pre-Seed Capital Fund Micro-Loan Program was formed for Michigan’s SmartZones to support high-tech high-growth start-up companies as they near viability. The focus is on technologies in advanced automotive, manufacturing and materials; alternative energy; homeland security and defense; and life sciences. To meet the funding criteria, companies must be located in Michigan; have the rights to innovative technology, or be seeking a strong IP position; be pre-revenue; and have potential for rapid growth and sales over $10 million annually in five years. The submission package from the company must include a business plan and a separate financial workbook.