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The 3 main factors to know in crowdfunding for business

You are a small business owner. At first glance, you have projects on hold due to a lack of money. So you are thinking about finding crowdfunding for your business.

Here are three steps to know to find new capital for the project that requires funds for the company.

1- Banks

First, the first approach companies take is to call their banker to issue a loan.

Attention! Are you well-trained? Because you will have to meet specific mandatory criteria before approving a loan.

What are these criteria?

  • Have unblemished credit for both the company and the individual.
  • Give 20% to 60% equity. That means that you will have to find new capital. So money without any tie for your down payment. Also, it could be corporate crowdfunding.
  • A realistic project that the banker will appreciate.
  • A well-presented business plan.

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2- Private organizations

Do you know that there are private organizations that lend money to finance a project? Indeed, some independent organizations satisfy certain companies or startups by granting them a loan.

How do I find these organizations?

Contact the CLD (Economic Development Center) of your city in Quebec. If your city does not have a CLD, contact your municipality. It has partners it can refer you to.

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3- Crowdfunding for business

Finding money is easy when you can communicate well.

However, if you do not have a clear strategy and specific objectives, crowdfunding for business can be a failure.

And on this point, you do not want your campaign to fail because the time you have invested must obtain a conclusive result.

How to join this alternative system with crowdfunding for business?

Choose a platform that will meet the needs of the project.

  • Sign up for a platform and meet its acceptance criteria.
  • Submit your project on this platform.
  • Prepare your crowdfunding campaign.
  • Launch your campaign.
  • Raise funds for your project.
  • Realize your project.

All these steps seem very simple to make a crowdfunding campaign for a business. Nevertheless, many project promoters still lose their drive to the detriment of a lack of knowledge and confidence. And on another note, they are ill-prepared.

Either way, you need to be well prepared before starting a campaign.

A crowdfunding campaign is like a political campaign. Imagine if a party leader was not surrounded by people who believe in him and his project in the next election!

It would be a failure—the end of credibility and notoriety.

Makers de Rêves provides you with a team of coaches to assist you in preparing your campaign. In addition, you propel the movement with more visibility. Inform yourself!

Finally, make sure you find the correct information before starting a crowdfunding campaign for your business.

To your success!

Guylaine Beauchemin – Crowdfunding project manager

P.S. – If you like this blog post, I invite you to read the crowdfunding in Quebec.

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