Have you heard about “equity crowdfunding?” Federal law will make it legal soon. But, of course it has its hoops to jump through. For starters, you can only raise $1 million.
You have to raise your entire goal, or you can’t collect any of it, and you lose the up-front costs too. And your financial documents need a certain amount of analysis, depending on the amount you want to raise. Plus, they limit what each investor can contribute.
So it’s not without its pains. But, it’s another way to raise money that you can pull out of your entrepreneurial hat.
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