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Are you looking for an alternative way of raising funds to fuel your startup, product idea, or creative endeavor?
Crowdfunding could be an attractive option instead of traditional financing through a bank. Crowdfunding is a method of collecting typically smaller amounts of money from a large group of people who want to support your business venture.
Crowdfunding platforms have different business models, so check out if one of these is right for you. Many have fees, rules for withdrawing the funds, and other requirements.
Kickstarter
Bring creative projects to life
Kickstarter is a tool for artists, designers, makers, musicians, and creative people everywhere. It’s the only platform that’s fully dedicated to building a community around creative projects.
Kickstarter’s all-or-nothing model allows you to choose a funding goal and a set number of days to reach that goal. This way, you don’t get stuck without enough funds to realize your project. It also gives backers incentive to pledge more to help you reach your goal.
Indiegogo for Entrepreneurs
Great fit for creative or entrepreneurial projects
Indiegogo is where early adopters and innovation seekers find lively, imaginative tech before it hits the mainstream. You get to keep the funds you raised, even if you don’t reach your goal.
Patreon
Generate a monthly income stream
Create a monthly subscription platform where supporters provide regular monthly contributions. Patreon supports the creator, not a particular product. Consider this for a podcast or course you create. Free to get started, but the platform takes a small percentage once you begin earning, plus a rate for processing payments from your patrons.
Fundable
Now anyone can fund your business
Post your idea on Fundable, and investors can pledge money to your project. You can offer equity in your company or offer prizes or product pre-orders. Raise capital from funders, customers, and friends. It costs $179 per month to be on Fundable, and there is a fee of 3.5% + $.30 for every transaction.
ClearBanc
Funding without crowdfunding
Get funding without giving equity or a personal guarantee or credit checks. Online businesses with average monthly revenue of at least $10K and six months of consistent revenue history are eligible.
ClearBanc takes the bias out of traditional funding using a data-driven approach to determine funding amounts based on your sales data. No pitches, no stress; the offers are built purely on your successes.
Link at least one sales account, such as Shopify, and one marketing account, for example, Facebook Ads, to ClearBanc. Loan repayments are a percentage of your daily revenues from your sales accounts. The payments are automatically debited from your bank account.
Get funds of $10k to $10M. ClearBanc is paid a percentage of revenue until they are paid back, plus a small 6% - 12% fee.
GiveWP
Collect donations on your website
GiveWP is a WordPress plugin you can add to your WordPress website. Create custom donation forms, manage your donors, and gain insight from fundraising reports – all directly on your own site. The Basic Plan is $175 annually.
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