Montana’s Frontier Angel Fund boosts start-up companies like Tipu’s Tiger Chai with funding, valuable advice

Bipin Patel knew his traditional chai tea concretrate, manufactured in Ronan using authentic recipes and natural and organic ingredients, was a good product with strong market appeal.

But his timing to look for financing to expand his new company couldn’t have been worse.

"I talked to be people about trying to get loans, but effectively, I didn’t have any assets," said Patel, president of Tipu’s Tiger Chai http://tipuschai.com/ , which was started in January 2007. "I don’t own the building or any equipment to speak of. I was left with very limited options."

People who initially expressed interest in backing his new company financially took a beating in the recession and declined the opportunity.

So Patel took a long shot and submitted an application to the Frontier Angel Group http://frontierangelfund.angelgroups.net/ , a group of 33 investors, mostly from the Flathead Valley area.

The Great Falls Development Authority is using the Frontier Angel Group model to create a similar effort in northcentral Montana.

By JO DEE BLACK • Tribune Business Editor

Full Story: http://www.greatfallstribune.com/article/20100613/BUSINESS/6130308/Angel-Fund-boosts-start-up-companies-with-loans-valuable-advice