Despite good intentions, BIDCOs failed to fill new-biz funding gap

Tom Henderson - On Nov. 25, 1985, Crain's published a story about a Senate committee in Lansing approving a BIDCO, an acronym for business and industrial corporation, whose purpose was to fill the gap in funding for new businesses between banks and venture capitalists.It was a gap that wouldn't be filled for long or very successfully.From the archives: State considers law permitting bank-like bidcos (Nov. 25, 1985)The idea was that young businesses that didn't have pristine credit or top-notch collateral would