[originaltext]W: Mark Fletcher, you’re a business angel. Can you explain what a

W: Mark Fletcher, you’re a business angel. Can you explain what a business angel is?
M: Yes, (19)a business angel usually invests in start-ups and small businesses looking to expand. When the company does well, he expects his capital back with a substantial return.
W: How do these investments differ from bank loans?
M: (20)I don’t charge interest, so I’m taking a risk with my money. But within five years I expect to get a good return on this investment.
W: How do you get your money back?
M: I will have an agreement with the owners as to how much of the money they raise goes to me.
W: How do you find a company to invest in?
M: Business owners contact us through a network of business angels. Typically, they give a presentation to a group of prospective investors, and if anyone likes what they see, they put money into the business.
W: How do you decide who to invest in?
M: I need to see business plans, but if I think the company is producing something that there’s a market for, and(21)if I think the owners have the drive and ambition to do well, then I’ll put my money in.
W: Are all the businesses you invest in successful?
M: Of course not. If I invest in ten companies, I expect three or four to go bust, two or three to do OK and a couple to be really good. Those are the ones I make my money on.
W: And once you’ve invested your money, do you have any further involvement in the company?
M: (22)I’m very much a hands-on investor. Sometimes I’ll expect to become a director of the company.
19. Q: What do we learn about a business angel?
20. Q: What’s the difference between a business angel investment and a bank loan?
21. Q: What might affect the man’s decision on his investment in a company?
22. Q: What might the man do after he invested his money?