40billion.com Helps Small Businesses Raise $25 Million in Funding Through Social Networking

ATLANTA, Aug. 16 /PRNewswire/ -- 40billion.com, the first social funding network for small business entrepreneurs, recently announced it passed $25 million in funding requests.  40billion.com also announces the appointments of Daniel Pugh as chief operating officer and Brent Wadman as vice president & general counsel.

"More entrepreneurs are using our Internet-based microfinance platform to get business loans because their communities and networks of friends and relatives will help them when banks will not," said Cornelius McNab, CEO and founder of 40billion.com.  "To help us handle the tremendous growth in demand that is expected, we welcome Dan as head of operations and Brent as head of legal."

Daniel Pugh was previously general counsel of Synthetic Genomics, Inc., a biotechnology startup; associate with law firm DLA Piper and of counsel to Davis Wright Tremaine.  He has represented entrepreneurs and venture capital funds and advised numerous private companies.

"With traditional small business and entrepreneurial funding so limited, 40billion.com's social micro-funding efforts will facilitate job growth and economic recovery nationwide," said Pugh. "I am extremely pleased to be part of this venture."

Brent Wadman was previously assistant general counsel of Infogroup, Inc., a publicly-traded marketing solutions provider for businesses; owner of Wadman Law, a corporate litigation boutique specializing in corporate formation and commercial transactions; and, attorney at Ameritrade, Inc., a publicly-traded financial services company providing online trading and investing.

"I am excited to join the high-caliber 40billion.com team," said Wadman. "I am a strong believer in the services 40billion.com provides and its mission of connecting and facilitating relationships between entrepreneurs, small businesses and investors."

Additional information about 40billion.com is available at: http://www.40billion.com.

About 40billion.com

40billion.com, Inc. is the first Internet-based microfinance company serving American small businesses.  40billion.com's scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions.  Using proprietary online tools, entrepreneurs build social networks - including friends, relatives, colleagues, customers, and other contacts - and use these connections to raise capital through small business loans and gifts.  Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns.  40billion.com, Inc. is headquartered in Atlanta, GA.  For more information, visit http://www.40billion.com.

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Cornelius McNab

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SOURCE 40billion.com