Binary Bridge is commercializing a rugged electronic medical record system (EMR) to support humanitarian medical missions and rural clinics in developing countries. Existing EMRs are complex, expensive, and generally unfit for conditions in remote areas that lack consistent internet access. Its product, Backpack EMR, fills this gap.
Recipient Name: Binary Bridge
Corporate Form: Specific Benefit Corporation
Entrepreneur: Lori Most, CEO
Amount Raised: $100,000
Overview of Investment Terms:
- Unsecured loan
Years 1-2: No payments; simple interest accrues at 2% and is paid in full at end of Year 2.
Years 3-5: Annual interest-only payments; simple interest at 3%, 4%, and 5% in Years 3-5 respectively.
Principal to be repaid in two payments at end of Year 5.
10-year warrant for 20% of PRI principal