Most of us would normally turn to bank loans and credit programs to raise capital for a business that we are planning to start up. But those loans and credits cost us still a good amount of money with their interests and other charges. 40billion.com is utilizing the power of social networking, more particularly with friends and families to raise money for a business capital or a fund-raising campaigns.
40billion.com is a new platform for entrepreneurs’ micro-funding activities. The site matches entrepreneurs and investors online through social networking. It is an online marketplace for friends-and-family funding, or what we commonly refer to us “love money”, microfinance or social lending. Basically, 40billion is giving all of us access to affordable business financing through loans contributions/donations and equity partnerships.
40billion.com is the entrepreneurs’ micro-funding platform, matching entrepreneurs and investors through an online network of friends and family. We are addressing a $40 billion gap in small-business funding by creating an online marketplace for friends-and-family funding (a.k.a. “love money”, microfinance, social lending), fundraising, and investing so that more entrepreneurs can have access to affordable business financing through loans, contributions/donations, and equity partnerships.
Now, how does 40billion.com will be able to help you raise the much needed capital? First you create a raise, or in social networking – profiles. In your profile, you will have to determine how much funding you need (this could go from $1,000 to $99,000. You also provide your potential investorys with insight into your business vision, through photos, video and Powerpoint slides.
Then you invite your friends and family to invest in your Raise, through email. If you want others to view your Raise, you can sign in to your 40billion account and click on the INVITE OTHERS TO INVEST link. Of course, it goes without saying that the more people you invite the more chances for your Raise to raise your much neeed amount of money.
Next, you wait till people starts donating and investing in your Raise until such time that you have reached you goal. Soon, you’d notice that the funds would keep on going depending on the value of your Raise. Others can invest as much as $10,000 each.
Once you have raised enough money, you can also use the site to search for business ideas, strategies and plans.40billion has a B2B search engine that could probably help your start your dream business.
Good luck and have fun raising funds.