With the perceived reluctance of the high street banks to lend to start-up businesses, coupled with the increase in the use of social media both by individuals and companies, crowdfunding is the new online market to bring lenders and borrowers together.
What is Crowdfunding?
Crowdfunding is the establishment of a number of internet platforms or sites where businesses requiring funding are brought together with potential investors or lenders.
Is it suitable for me as a Business?
For a business, crowdfunding comes in three ways, the provision of loans either secured on company or personal assets or through debt factoring arrangements, the provision of funding via equity especially for new start-ups or established companies bringing new products or technologies to the market.
What can Whitings LLP do for you?
- Identify instances where Crowdfunding maybe the preferred option for funding.
- Identify Funding Circle or another suitable platform where chances for full funding are maximised.
- Work with you in (re)structuring your business, improving your credit rating and strengthening your balance sheet to achieve a listing on your chosen funding platform.
- Prepare a cashflow forecast, to calculate the amount of funding required.
- Create a business plan to appeal to the widest possible range of lenders and investors and help you with your pitch.