40billion.com launches friends-and-family funding network
40billion.com has launched ots friends-and-family funding network for small-business entrepreneurs. The service enables entrepreneurs to raise capital through friends, family and others interested in helping the entrepreneur to succeed.
Unlike traditional bank loans and other person-to-person lending services, 40billion.com does not require a credit report or minimum credit score and does not allow loan interest rates as high as 36%, which many small-business entrepreneurs cannot afford. Instead, the entrepreneur can raise money from people they know in exchange for discounts that they offer to those investors who become customers.
To obtain funding, an entrepreneur simply uses 40billion.com to start a “Raise” (a fundraising profile) and invites friends, family and others in her social network to invest and contribute towards the funding target. 40billion.com makes it easier for entrepreneurs to share their business ideas with friends and relatives, who may want to invest and help out. Furthermore, 40billion.com handles all the transactions, so it is easier for an entrepreneur to manage having many investors. Raises are private, so potential investors must be invited by entrepreneurs or other investors.
Advantages of 40billion.com:
- No credit report or sales history required
- Multiple funding options
- Private, invitation-only profiles
- Exclusive entrepreneur features, e.g., live presentations online
- Search-engine to find business resources
- Profiles with embedded videos and PowerPoint presentations
- Investors receive social returns, financial returns, and discounts