Tuesday in Business Insider: How investors can help Idaho businesses through a little-known program

zkyle@idahostatesman.comNovember 11, 2013 

startup financing, business, brewery, beer

The business architect of Bogus Brewing Inc., Collin Rudeen, left, and Head Brewer Lance Chavez sample a beet saison at the future home of Bogus Brewing. Rudeen, who concocted the business plan, projects the brewery will break even after eight years.

DARIN OSWALD — doswald@idahostatesman.com Buy Photo

Collin Rudeen may be the mastermind behind Bogus Brewing Inc., which he plans to open in the spring at 521 W. Broad St. in Downtown Boise.

But Rudeen isn’t the only owner. He shares that distinction with 149 investors (so far) who have chipped in $327,000 to help get the Boise brewery off the ground through a little-used public investor program authorized by Idaho law.

It’s called the Small Company Offering Registration program, or SCOR. The program provides a way for businesses to accept money from qualified Idaho investors, who later receive dividends if the business makes a profit.

Most startups need to secure capital either through bank loans or from wealthy angel investors, Rudeen says.

“That doesn’t really fit with our idea of inclusiveness and community,” he says. “Since we could have an unlimited number of investors, we could make the minimum investment approachable for a normal-type person.”

The minimum for Bogus investors was $1,000. The most provided by a single investor so far is $30,000.

Scott Ki, of Boise, hopes to make money on his $5,000 investment in Bogus. More than that, he wants to feel ownership in a project he supports.

“How often do you get a chance to part-own a brewery?” Ki says. “I like beer. My wife likes beer. We decided to listen to (Rudeen’s) pitch and go from there.”

Read the rest of the storTuesday in Business Insider. Other headlines in the latest issue:

• ‘Obamacare’ brings a new world for Idaho insurers.

• How technology reshaped Boise’s Hillcrest Floral .

• Want to sell Treasure Valley houses? Join the crowd.

• Idaho baby boomers rethink safety.

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