Revenue-based investment startup, Lighter Capital, announced today it has hired BJ Lackland to replace Andy Sack as CEO.

Sack, who will stay involved in the startup, plans to focus on his roles as general partner at Founder’s Co-op and director of TechStars Seattle.

Lackland comes to Lighter Capital as the former CFO of Power Efficiency Corporation.

Xconomy reports Lackland’s vision for the startup’s future:

“As he takes over, Lackland says Lighter Capital has learned some lessons that will change its approach in the future. The company won’t be going after pre-revenue companies, he says, and will likely focus on customers that have some kind of a software or tech focus (and the accompanying high profit margins).”

To learn more about Lighter Capital, watch its FinovateFall 2011 demo.

Today Lighter Capital, a startup that provides alternative capital options, announced its investment in three new companies:

• BinaryWave, a Dallas-based company that develops products and services to support Microsoft SharePoint

Revenue-based loan startup Lighter Capital announced the launch of a new feature this week called Design-A-Loan.

Design-A-Loan makes it easy for borrowers to draft a tailored loan based on their personal situation.

Here’s how it works:

1. Enter your business’ revenue from the previous three months

2. Decide the amount you want to borrow and the term of the loan

The tool generates the rate of the loan

3. Apply for the loan

This tool provides a non-intimidating platform where potential borrowers can experiment with different loan types before applying for one.

To learn more about Lighter Capital, watch its FinovateFall 2011 demo.