Charles River announced a new program to give $250K venture loans to entreneurs who send them an email (email@example.com) with their idea.
We give them credit for recognizing that many Venture Capital firms have amassed so much capital that they look more like Private Equity firms. Angel investors abound they can be hard to work with and demand a reasonable chunk of equity in exchange for a small investment.
This area has been championed by Paul Graham and his crew at Y Combinator but this move by Charles River certainly ups the ante and investment resources for building companies fast with a minimum of friction.
Overall the terms and conditions look pretty fair. Complete information on the program and the ability to apply can be found at the Charles River Website.