Crowdfunding 101

A Rotating Savings and Credit Association (ROSCA) for women (Photo credit: The Reboot)

Crowdfunding is a relatively new idea compared to other methods of securing capital (bank loans, personal savings, line of credit, venture capitalist, charitable donations). However, it’s actually been around for several years. Many of us have heard stories of people funding various initiatives online.

So what do you need to know about crowdfunding? Here’s a quick tutorial:

What is crowdfunding?

Individuals contribute their money, from as little as one dollar to thousands of dollars, to collectively fund various initiatives introduced by other individuals, organizations, or businesses. …read more