Crowd Funding (donations)
Create a unique campaign and share it with the world. The strategy here is usually to get many small donations from a wide number of funders so making your project accessible, understandable, and irresistible is key.
- Kickstarter – no funds received if minimum not reached (all or nothing), platform takes 8% of funds. 44% of projects funded.
- Indiegogo – no minimum, % taken by platform varies based on if you meet your minimum goal – less than Kickstarter if you do, more if you don’t.
(Convertible Notes)- New in Oregon in 2015
Raising up to $250,000 from Oregon residents in convertible notes – this means that it acts as a loan unless a “conversion event” occurs at which point it becomes equity. This is a new possibility in Oregon and so education and tenacity are key with this form of funding.
- Hatch Oregon (statewide Crowd Investing organization) – no funds received if minimum not reached, personal help with creating offering and educating possible investors available through Hatch. www.hatchthefuture.org
Offers 0% interest loans up to $5,000 to small businesses by following the crowdfunding method. 95% of borrowers reach goal (much higher than crowdfunding).
Kiva Zip – no funds received if minimum not reached
For more information on exploring Nontraditional Business Funding Opportunities, please contact Sustainable Valley Technology Group- http://sustainablevalley.technology/