Micro Loans and Crowdfunding have become a huge trend. The story doesn’t stop there though.
This is about changing the world. Affecting millions of lives, families, and even the environment in positive ways. Depending on the type of financing that you would like to pursue, there are a lot of benefits. Typically microloans and crowdfunding are a lot easier to get approved for the funds and the balance can be deposited in your account a lot faster. People can get funds with no credit, no product built yet, no assets, and sometimes you aren’t even required to pay the money back.
Everyone likes a happy ending right? That’s probably why people are willing to donate their personal cash towards helping others dreams come true. Even if it’s just an idea. After all, every great accomplishment was started with the first step.
Save the World!
Crowdfunding and other forms of non-traditional financing are changing peoples lives in more ways than we can imagine. One startup is working on a new-age ocean farming technique that is reducing overfishing, and cleaning up waste spread through the ocean. The project raised $37,478 out of the $30,000 that they originally needed.
Pebble will probably go down in global history for as long as we live. Pebble had such good success with crowdfunding that it’s hard to tell who came first, crowdfunding or Pebble. A simple smartwatch idea that would sync with any smartphone and sold for an affordable price. Once word about Pebble spread, people fell in love, and they were able to raise an astronomical amount of money with little more than a concept and some pre-engineered projections.
Pebble went from an awesome idea to a serious success within 30 days. They managed to raise $10,266,845 of the $100,000 that they needed to start making the watches. They are still manufacturing them today, and being happily received by their customers.
Get a Loan And Make Friends!
MicroLoans have really done a good job of changing the financing world. Similar to crowdfunding in the sense that everyday individuals are investing in your ideas, and giving you loans. The only difference is that instead of receiving a product or service for your loan/investment, you receive monthly payments and interest, similar to a standard banks compensation. The extremely unique and attractive feature of going the micro route as a recipient is that you can choose the amount of funds you want, you get the funds as soon as any single person invests, and you can even build a more comfortable professional relationship with a microlender, rather than the un-personalized and typically desensitized banks.
One Microlender, Mary Clive, from Maryland says that “it’s an investment in other people’s hopes and dreams.” That’s the power of microlending. “When a small business is successful, that can really have a life-changing effect for the family of a business owner.”
Microloans vs. Crowdfunding
Crowdfunding is more for people who are looking to start up a company or get a large investment to take their current situation to a new level (new products, new facilities, etc). Crowdfunding requires investors to receive a product or service after the goal is met, whereas microloans require a payback plan.
Microloans are great for just getting a little bit of help, even if you aren’t a business owner. Need money for baby clothes? Hope on over to Kiva.org and post what you need. You’ll probably be surprised by how quickly some kind soul is willing to help.
There are other forms of funds that you could choose as an option. Small business loans are always a good option for any established business with good credit. For anyone that needs smaller funds and just needs them fast and easy, cash advances are still an option
See how much money you could receive by visiting cashfund.com