charmnailspa

In what appears to be a first in more than six decades, the U.S. has authorized an American company to finance and invest in a private business in Cuba, an unprecedented move that could open the gate to American investment to help Cubans on the island gain economic independence from the state.

The U.S. embargo on Cuba, in place since 1960, prohibits most financial transactions involving Cuban nationals or entities, unless they fall under an exception or are authorized by a license. The people behind the recent initiative believe this is the first time the U.S. government has authorized direct financing and investment in a Cuban private enterprise.

The decision came last week, when the U.S. Treasury Department allowed a company headed by John Kavulich, president

Asenso Finance, a fintech startup trying to make it easier for small businesses to receive loans from community banks and financial institutions, is looking to raise $1 million in a new crowdfunding campaign.

---

Manhattan Beach-based Asenso is using the crowdfunding platform Wefunder.com to find retail investors willing to back its seed round. The startup, which launched last fall and is backed by Los Angeles venture studio Talino Venture Labs, is raising the funds at a $15 million pre-money valuation. It is also offering seed investors special “Early Bird” terms: those contributing the first $300,000 will invest in a simple agreement for future equity (SAFE) at a $12 million pre-money valuation, or a 20% discount. As of Monday afternoon, it had raised nearly $91,000.

Asenso aims to close the round by the end of the first quarter or early second quarter, Carina Oriel, the firm’s corporate development and strategy lead, told