40Billion Blog for Startup Entrepreneurs and Small Businesses
Blog of 40Billion.com, the small business entrepreneurs' social network!
As the world has grown increasingly accustomed to staying connected digitally and on-the-go, nearly all of the more traditional marketing methods have become irrelevant. We’re going to take a look at what digital marketing is, and how you can harness its power to achieve success for your marketing campaign.
What is Digital Marketing?
Digital marketing is the total opposite of outbound marketing. Read more…
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Crowdsourcing is a hot topic as an interesting social media phenomenon. Sometimes it starts accidentally when an injustice is exposed or a good deed is done. Other times, it is started intentionally to garner support for a cause or operate as a focus group for an idea or product.
Whether accidental or intentional, there is no better platform to crowdsource influence than Twitter. Read more…
Recommended: 4 Steps to Crowdfunding Success
In addition to the money provided by backers, crowdfunding can generate other, unanticipated benefits for small businesses. Two such benefits are 1) new customers and supporters, and 2) access to additional financing and specialized services.
New Customers and Supporters:
Everyone who contributes to a crowdfunding campaign is a potential new customer and loyal advocate for your brand. Not only are they likely to purchase from you in the future, they also are a source of great feedback.
You get amazing feedback by putting yourself out there. Read more…
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On some of the most popular crowdfunding platforms – such as Kickstarter, Indiegogo, and GoFundMe – less than half of the campaigns hit their funding goal. How do you make sure your crowdfunding campaign isn’t a failure? Here are four potential mistakes to avoid.
#1: Starting off too slow
If you want to hit your fundraising goal by the end of the campaign, experts recommend focusing on raising 30 percent of it in the first two or three days. Read more…
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Video is rapidly growing and quickly becoming a staple of marketing strategies. If you have not yet incorporated video marketing then you are simply behind the curve. Not only that, but you are losing out on the various benefits that having a video strategy provides.
Importance of Video:
The reason video is such a powerful medium lies within its ability to engage, educate, and influence potential and existing customers. Read more…
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Everyone is busy in creating his own content marketing strategies. Companies have sensed the importance of this form of digital marketing and have been trying their best to create high quality content.
Here are 7 important steps in content marketing that every blog should include. It is a true assumption that the content promotion strategies very much depend on the nature of the business, but the following points can be applied to any kind of content.
1. Read more…
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Business owners often struggle with a perpetual to-do list for running their companies, and it seems to be getting longer all the time. Digital marketing, in all its varied forms, is becoming increasingly important as more and more of your target audience is searching for and finding products and services on the internet. Marketing experts recommend employing a hearty dose of social media, blogging, local SEO (Search Engine Optimization), and review site management to grow your client/referral base.
With everything else you have to deal with, how can you stay on top of Facebook, Twitter, and Linkedin multiple times a week, not to mention a weekly blog, email campaigns, videos creation, and reputation management? If you recognize the value these activities will bring to your business, but don’t have the resources to hire someone to help you with it, consider these 5 tips to make it work efficiently for you.
1. Read more…
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There’s good news and bad news when it comes to marketing your small business. The good news is that as a small business owner, you are the perfect person to promote your product or service. You’re knowledgeable and passionate, which are two of the main ingredients in an effective marketer. The bad news is that marketing can take up a lot of time and money. And extra time is not something that entrepreneurs come by very often.
Here are 4 simple marketing ‘hacks’ that will help boost your small business marketing efforts and make your life as an entrepreneur a little easier.
* Identify your strengths
There are a ton of options for marketing your business – newsletters, social media, attending events, etc. Read more…
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1. Little or no social media or blogging activity.
Why start a blog and never publish? Why start a Twitter account and never tweet? In social marketing, you have to show up and be active. Yes, starting that Facebook page was a good idea, but unless you are going to be consistent in posting and using it, just forget about it.
You can save time by using sites like 40Billion.com, which specializes in broadcasting and promoting posts to its large network of several million users across the most popular social networking sites for small businesses – including Twitter, LinkedIn, 40Billion, and even Facebook. Read more…
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Some marketing strategies become less effective and some more effective. As a startup with limited resources, you need to pay especially close attention to what’s current so you can get the most bang for your marketing budget. You already know that you have to setup social media accounts. But here are few other ways you may not have considered.
1. Make an Explainer Video
Everyone knows that video production is effective for business, but many startups dismiss the idea because they believe it’s expensive. Read more…
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There are endless ways to finance your ideas, but there’s nothing like marketing a startup with a modest budget. Limited funds give you an excuse to flex your creative muscle and truly share your vision with the world.
Don’t rely on the same old banner ads and Google reviews. Instead, try these seven marketing strategies to place the spotlight on your business.
1. Share your story
Instead of just introducing yourself as an entrepreneur, develop a narrative that differentiates your company from others and sparks conversation. Read more…
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Small business marketers who use content marketing are able to reduce the cost of leads, increase awareness and position themselves as leaders.
In recent years, marketers have been forced to think differently about how they engage with potential customers, particularly small business marketers.
Every year, customers have increasing control over what marketing messages they wish to consume. Read more…
Recommended: 7 Steps to Boost Content Marketing Success
Content marketing online is continually changing and evolving. If you’re behind the content marketing curve, now’s the time to get caught up – here are 10 content marketing trends that are relevant today.
1. Social Media Content is King
Social media marketing is the most popular content promotion tactic by a mile. 87% of B2B content marketers are active on social media, while 81% have articles on their websites.
Lately, sites like 40Billion.com have made social media content marketing easier for businesses by broadcasting and promoting their articles to its large network of several million users across the most popular social networking sites – including Twitter, LinkedIn, 40Billion, and even Facebook. Read more…
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One of the most important aspects of your crowdfunding campaign is the story you tell, as it has a direct impact on the overall impression that your project conveys. In the end, this is what will get someone to become your supporter. Your choice of words can actually make a huge difference in your campaign’s results.
Before getting started, you have to decide if you or your team are the most suitable to do the work. Read more…
Recommended: 11 Ways to Write a Compelling Crowdfunding Campaign
Keeping the doors of your small business open can depend upon your ability to market to potential clients. Email marketing has been a mainstay strategy throughout the technological era. Prior to this, companies were limited to direct mail for advertising. Using the postal service could cost a small fortune and your materials might end up in the trash as junk mail. Read more…
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You can attract new customers, increase sales and grow your pipeline instantly by partnering strategically with other businesses. There are many mutual benefits that make the work required to build a strong marketing partnership worthwhile. There is the implied endorsement that goes along with it as well.
Strategy is a key to a success. Many business professionals attend local networking events with the hope of finding others they can partner with in order to grow more quickly. Read more…
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Every day we are bombarded by brands fighting for our attention; how can you possibly make your startup stand out? Marketing your startup in today’s competitive business economy is undoubtedly difficult and expensive, but there are steps you can take to make sure your startup gets a good chance at success.
Before you start, make sure you have a firm grasp on two key things. First, you want to make sure that all of your marketing strategies identify and build upon what makes your business unique in your space. Read more…
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With the popularity and success of crowdfunding as a new way to fund new projects, it’s easy for other aspiring entrepreneurs to believe that sites like Kickstarter are their golden ticket to launching a business. But the reality is, crowdfunding isn’t always as simple as it seems.
Whether you’re looking to raise a small amount of startup cash or acquire a larger sum through equity crowdfunding, there are a few challenges you might face during the process that you may not have expected.
Choosing the right platform
The first step is to choose the right platform. Read more…
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The biggest problem that many small businesses throughout the United States face is how to secure startup or initial funding from traditional lenders. Since the 2008 financial meltdown, banks are under a lot of pressure to make safer loans, resulting in stricter underwriting guidelines and fewer loans being approved.
With the advent of crowdfunding providing a more accessible option, the amount of small businesses with crowdfunding campaigns has significantly increased. Read more…
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This post on how to raise money successfully using simple crowdfunding steps answers common questions for startup entrepreneurs and small businesses thinking about using crowdfunding to raise funding.
I have been in the crowdfunding space since 2008, after experiencing first-hand one of the biggest problems plaguing new businesses: There was a $40 billion gap in funding every year! That year, I founded one of the first crowdfunding platforms for U.S. Read more…
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This post on how to raise money successfully using simple crowdfunding steps answers common questions for startup entrepreneurs and small businesses thinking about using crowdfunding to raise funding.
I have been in the crowdfunding space since 2008, after experiencing first-hand one of the biggest problems plaguing new businesses: There was a $40 billion gap in funding every year! That year, I founded one of the first crowdfunding platforms for U.S. Read more…
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What is Crowdfunding?
Over the past eight years, crowdfunding has emerged as a popular tool for individuals to raise financing for business ventures.
Entrepreneurs typically raise small amounts of money from a large number of backers, or “the crowd,” usually via the Internet. Backers receive some sort of reward or, less commonly, an equity- or royalty-based financial return. Crowdfunding platforms – including Kickstarter, Indiegogo, and GoFundMe – have raised billions of dollars, and the industry is still growing with niche service providers such as 40Billion which focuses on crowdfunding promotion for small businesses.
For small and new business owners looking to raise capital, crowdfunding is an increasingly popular option. Read more…
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This post on how to raise money successfully using simple crowdfunding steps answers common questions for startup entrepreneurs and small businesses thinking about using crowdfunding to raise funding.
I have been in the crowdfunding space since 2008, after experiencing first-hand one of the biggest problems plaguing new businesses: There was a $40 billion gap in funding every year! That year, I founded one of the first crowdfunding platforms for U.S. Read more…
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Great news! 40Billion is now the social network of entrepreneurs, business leaders, and creative people. The new 40Billion site enables you to promote yourself, your business, and your creations to the world.
For over four years, our platform introduced crowdfunding to U.S. small-business and startup entrepreneurs, facilitating more than $100 million in raises. We recently spun off our U.S. crowdfunding business, and we have expanded 40Billion as a social networking platform for entrepreneurs worldwide.
Your new profile page includes amazing features that help you promote your creative stuff. For example, you have your own whiteboard, where you can post news, questions, messages, links, photos, videos, and just about anything that you want to share with your contacts or the world. If other users like what you’ve posted, they can easily repost, reply, and share your posts.
Upgrade to a Promoted Profile, and we’ll automatically promote your profile daily to over 40,000 contacts, followers, and fans on 40Billion, Twitter, and other popular social networks. This is a great way to increase your exposure, get new contacts, advertise your business, and show off your creations.
Check out the new 40Billion now, update your profile, and see what’s happening in your network. Please LIKE our profile too.
We just hit $100,000,000 in raises!!! Congratulations to all of our entrepreneurs who’ve raised money on 40Billion.
Did you catch 40Billion’s founder, Cornelius McNab, on WREK “Let’s Talk Business” radio show today? If not, listen at http://soundcloud.com/40billion/business-crowdfunding-pioneer
“T.E.D. – The Entrepreneur’s Dilemma” is the story of a self-destructive, aspiring entrepreneur. It unfolds 140 chars at a time. COMING SOON at http://www.twitter.com/40billion
If we reach 100,000 followers by Halloween (10/31), we’ll give a brand new 64GB iPhone 5 to one random follower. Follow 40Billion with your friends and you could win: http://www.40billion.com/follow-us.asp
We just hit 250,000 40Billion users!!!
To help you finish your business plan faster, 40Billion has partnered with Growthink to give you a 25% discount on “The Ultimate Business Plan Template”!
Click Here to Learn More And Save 25%
The Ultimate Business Plan Template was created by Dave Lavinsky, co-founder and president of Growthink, a leading business planning company. Since 1999, Growthink has developed business plans for thousands of clients, and the firm’s clients have raised more than $1 Billion.
By using this proven template, you’ll not only raise money faster… you’ll save tons of time. It takes the average entrepreneur 100+ hours to create a business plan from scratch. But if you download this template today, you can be printing out your business plan tomorrow.
Hurry, this exclusive discount ends soon…
Click Here to Learn More And Save 25%
Are you as excited as we are? 40Billion will soon launch a new site redesign, complete from top to bottom (except the mobile site, which will be redesigned later this year). We’re working diligently to bring you a fresh new look that is more visually appealing, enhances your user experience, and helps you discover all of the great features that are available.
Coming next week. Stay tuned.
There is a $40 billion gap in funding for startup entrepreneurs. What are YOU doing about it?
Many small-business entrepreneurs raise initial funding for their business ideas by borrowing money and getting gifts from their friends and family… Over $100 billion per year already.
40Billion.com just makes it easier, more scalable, and more fun for entrepreneurs and their friends and family to arrange business loans, gifts, and donations. And it’s about time!
A common question asked by small business owners and startup entrepreneurs on 40Billion.com is “When is the right time of the day/week/year to raise money?” It helps to plan.
We have 5 rules of thumb to improve your chances of getting the attention of funders – whether they’re friends, family, or even strangers who are funding your business:
Thermometers are instruments that measure temperature. Thermostats are devices that control the desired temperature.
The difference between the two is critical.
Thermometers are reactive. They sit by passively and accept whatever conditions their environment has created for them.
Conversely, thermostats exert control. When the environment isn’t quite right, perhaps it’s too hot or too cold, the thermostat pro-actively adjusts to obtain the desired conditions.
Successful entrepreneurs are typically thermostats. Think about it.
There is an interesting game theory model known as the Prisoner’s Dilemma. The dilemma is illustrated as follows:
Two suspects are arrested by the police. The police have weak cases against both of them. So, here’s what they do…They hold the suspects in two separate cells. Then, they tell each that if they implicate the other, they will get leniency. If not, they are told, they will get harsh treatment.
What typically happens in this situation is that each prisoner decides to implicate the other in order to get a lesser sentence. As a result, the police end up convicting both suspects.
What is most interesting about the Prisoner’s Dilemma is that both suspects made rational decisions (the decision to implicate the other) based on the available information (which was that if you implicate the other you’ll get leniency, and if not, you’ll get harsh treatment).
But the problem was that the available information was lacking. The key missing information was that the police had a weak case. And, as a result, the better solution for the suspects would have been to keep their mouths shut, in which case, they both would have walked.
In business, this scenario often occurs, and unfortunately entrepreneurs often act as prisoners. For example, the entrepreneur who fails because they sought out bank loans and venture capital even though they weren’t ready for bank loans or venture capital, and they should have sought angel investors or friends-and-family funders.
Information and knowledge are the key. Entrepreneurs who lack the key information and knowledge become prisoners. They make perfectly rational decisions. But these decisions are often flat-out wrong because the information on which they made these decisions was flawed.
That is why the best entrepreneurs continuously invest in education. E.g., did you know that 40Billion provides informative business startup guides? In these quick startup guides, you’ll discover useful tips for:
Download the short MP3’s and listen to them on your computer or in your iPod, while at home, in the office, or on-the-go. Then, download the easy-to-use templates that come with each startup guide.
Go to http://www.40billion.com/startupguides/ and get educational tips to help you avoid becoming a prisoner.
In a poll of over 140 people, we found that a good business plan is the #1 most important factor in deciding whether to fund a friend’s or relative’s business.
Business plans are critical for setting goals and mapping out your plan to achieve those goals. They are also critical in order to raise capital.
However, there are some funders and investors that say they don’t need a business plan. Rather, they just want to see a company slide presentation and/or a 1-3 page Executive Summary.
So, at this point you are probably asking yourself, “So, do I, or do I not, need a business plan?”
The answer is a resounding “YES.” Let me explain.
A key reason for creating a formal business plan is the knowledge that comes out of it. Specifically, the business plan process forces you to make a lot of key decisions about your business. For instance, writing down your marketing plan forces you to determine the marketing tactics you will employ.
Likewise, the business plan development process forces you to assess your market, identify customer segments and customer needs, and determine the strengths and weaknesses of your competitors. This is all critical information that you need to successfully operate your business.
The U.S. Small Business Administration, in a study called “The Small Business Economy,” found a direct correlation between a business’ success and its creation of a formal business plan. That’s because the business plan development process forces you to really think through the business and make informed decisions.
Likewise, the business plan development process gives you the information that you need to include in your investor slide presentation, executive summary, and your Raise (fundraising profile on 40Billion). For example, one section needs to include your financial projections and uses of funding. Another section must talk about your marketing plan. All of this information comes directly from your business plan.
In a poll of over 140 people, we found that a good business plan is the #1 most important factor in deciding whether to fund a friend’s or relative’s business. So, the best thing you can do as an entrepreneur to increase your chances of success and raise money for your business is to turn your idea into a business plan.
The second best thing you can do is upload your business plan or executive summary on 40Billion.com when you start a Raise, and let funders download your business plan document easily with just one click.
Don’t have a business plan yet? Need help writing your business plan? Use our informative business startup guide to discover quick and useful tips for writing a business plan. Download the short MP3 audio file and listen to it on your computer or in your iPod, while at home, in the office, or on-the-go.
Then, download the easy-to-use business plan presentation template that comes with the startup guide at http://www.40billion.com/startupguides/ today.
Without a doubt, the biggest mistake made by entrepreneurs is pursuing the wrong funders.
Just like a specialized surgeon, most funders have areas which they feel very comfortable with, and others that they don’t. For example, even the most attractive clean-tech company might be quickly thrown in the trash can by a funder whose core focus is pharmaceutical deals.
If you are going after the wrong funders, no matter how good your company is, you probably won’t get funding.
Rather than blindly reaching out to thousands of funders, it is important to create a list of those that will actually have an interest in your business. The key factors to look at in creating that list are:
It is estimated that over 50% of new businesses generate funds from friends and family of the entrepreneurs. However, for many entrepreneurs, the main challenge that they face is locating the right people who are most willing and able to fund their ventures. Recognizing this common problem, 40Billion has created a unique solution called Funding Probability.
As the name suggests, the Funding Probability tool helps users estimate the probability that each person in their social network will become a funder or investor. The tool is based on a proprietary algorithm, which ranks each of the user’s contacts and indicates funding probability with an easy scale of High, Medium, and Low. The “High” probability contacts are those individuals who are most likely to provide funding to a particular business venture, and the “Low” probability contacts are individuals who are least likely to fund it. Based on this scale, the system is able to match the user’s venture with the most promising funding sources in their social networks.
Since launching a prototype of the Funding Probability tool, we’ve seen promising results as 9 out of 10 actual funders in the entrepreneur’s social network on 40Billion were ranked either High or Medium on the funding probability scale.
The Funding Probability feature saves entrepreneurs time and resources that they often spend chasing unlikely funding sources. Fundraisers can access the tool by clicking Invite Your Friends on their business fundraising profile page (i.e., their Raise), and 40Billion takes much of the guess work out of raising money.
Tool uses algorithm to estimate likelihood that friends and family will invest in a business
40Billion.com, the leading professional social funding platform, has launched a beta version of its Funding Probability tool to help users determine who in their social networks are most likely to provide funding for their business ventures.
It is estimated that over 50% of new businesses generate funds from friends and family of the entrepreneurs. However, for many entrepreneurs, the main challenge that they face is locating the right people who are most willing and able to fund their ventures. Recognizing this common problem, 40Billion.com has created a unique solution called Funding Probability.
As the name suggests, the Funding Probability tool helps users estimate the probability that each person in their social network will become a funder or investor. The tool is based on a proprietary algorithm, which ranks each of the user’s contacts and indicates funding probability with an easy scale of High, Medium, and Low. The “High” probability contacts are those individuals who are most likely to provide funding to a particular business venture, and the “Low” probability contacts are individuals who are least likely to fund it. Based on this scale, the system is able to match the user’s venture with the most promising funding sources in their social networks.
Since launching a prototype of the Funding Probability tool in April, the company has seen promising results as 9 out of 10 actual funders in the entrepreneur’s social network on 40Billion were ranked either High or Medium on the funding probability scale.
The Funding Probability feature saves entrepreneurs time and resources that they often spend chasing unlikely funding sources. Fundraisers can access the tool by clicking Invite Your Friends on their business fundraising profile page, and 40Billion takes much of the guess work out of raising money. Step by step, the online company is working to make social funding easier for U.S. small businesses to raise money than traditional funding methods.
About 40Billion.com
40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.
You can now access the power of 40Billion anywhere you are by using your Web-enabled mobile phone, Blackberry, iPhone, or Android smartphone. Sign in, manage your account, view Raises, view user profiles, read emails, add contacts, send invitations, search resources, and much more with the convenience of our mobile Web app.
Check it out at http://40billion.mobi on your phone today.
– The 40Billion Team
Are you as excited as we are? We’re working diligently to bring you 40Billion.com Mobile, an innovative mobile experience like no other, for raising money and funding businesses via your Web-enabled cell phone, iPhone, Android phone, or Blackberry smartphone.
Coming next week! Please stay tuned.
-40Billion
Ever wondered which of your friends is most likely to invest in your business? Want to know which potential funders you should pursue and invite to participate in your Raise?
Use our amazing new Funding Probability BETA feature to find out the likelihood that each of your contacts will fund your Raise (or even someone else’s Raise). Just click the “Invite Your Friends” button at the top of any Raise to find out more and make your social network start working for you!
Add contacts to your network and find out which ones are most likely to fund your business.
Five downloadable guides help entrepreneurs start new businesses quickly with tips for raising money, writing business plans, incorporating, managing cash flow, and protecting ideas.
40Billion.com (http://www.40billion.com), an online micro-funding and social networking platform for entrepreneurs and business professionals, has announced the release of 5 new Startup Guides to aid new business owners. The downloadable audio guides and templates provide quick access to information about raising money, funding options, business plans, company formation, cash flow management, and intellectual property protection.
In these Startup Guides, users can discover useful tips on 5 of the most important topics for new businesses:
On the website, users can download the short audio files and listen to them on any MP3 compatible player, including iPod and other portable music players, personal computers, iPhone and other smart phones, and many cars equipped with MP3 players.
Furthermore, users can download easy-to-use templates that come with each audio guide. For example, the startup guide on how to write a business plan comes with a 13-slide business plan template that users can fill out while listening to the audio instructions.
There is no charge for the first Startup Guide, and additional Startup Guides are $0.99 each. For more information, go to http://www.40billion.com/startupguides or click Startup Guides on the 40Billion.com site.
About 40Billion.com
40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. In business since 2008, the company aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.
We have several Marketing Intern positions open for the Spring semester, and we are accepting resumes from qualified students at top business schools, colleges, and universities.
Please review the job description and requirements at http://www.40billion.com/view_job.asp?jobid=1215833919_142201191445, and send us your resume today.
Cheers,
– The 40Billion Team
Enables existing Small and Medium Businesses to raise up to $1 million in short-term loans for 9 months using social networking
40Billion.com, an online micro-funding and social networking platform for entrepreneurs and business professionals, today announced new short-term loan options that enable small- and medium-sized businesses to raise up to $1 million in commercial paper for up to 9 months.
Commercial paper is an unsecured promissory note to meet the short-term financing and cash flow needs of businesses and can be a more affordable alternative to a traditional bank line-of-credit. Most commonly used by large corporations to raise quick and low-cost working capital, commercial paper has been in existence for over a century.
This reputable financing option is now available to small- and medium-sized businesses seeking to borrow $5,000 to $1,000,000 for up to 270 days, as well as investors seeking to diversify their investments and potentially earn a quick return while supporting U.S. small and medium businesses.
“Our short-term loan option using commercial paper offers a revolutionary solution to the problems faced by millions of existing small- and mid-sized business entrepreneurs trying to find affordable working capital,” said Harendra Jani, VP of strategy and planning at 40Billion.com.
According to Jani, there are several advantages over traditional bank loans: “It is unsecured and does not create any lien on the business’ assets; the discount rate is negotiated between the entrepreneurs and investors online, so ventures with high SBRS scores or good relationships may get better rates; the wide range of maturity, from 15 days to 270 days, offers a lot of flexibility; and, it can be used frequently for a variety of short-term cash needs such as payroll, inventory, and marketing.”
Since 2008, the company has facilitated over $30 million in business fundraising projects and aims to address a $40 billion funding gap with innovative small-business financing tools enhanced by the power of online social networking.
About 40Billion.com
40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. 40Billion.com, Inc. is headquartered in Atlanta, GA.
Online social networking and finance tools help entrepreneurs share business plans, raise money, and launch businesses with friends and contacts
40Billion.com, an online micro-funding and social networking platform for entrepreneurs and business professionals, has announced new integrated social networking tools that enable members to use their existing LinkedIn or Facebook accounts to help raise money for small businesses.
Using the Internet service, visitors connected by existing social networks – such as friends, relatives, co-workers, classmates, and other contacts – can sign up and sign in quickly and easily with their existing LinkedIn or Facebook accounts. The user simply clicks the “Sign in with LinkedIn” or “Sign in with Facebook” button and then enters their email address and password. 40Billion.com instantly logs in and automatically creates the user’s profile, including photo, summary, education, interests, honors, or other relevant information.
“Social networking sites are extremely popular with 90 million users on LinkedIn and 500 million users on Facebook, and many of the people using those sites for professional and personal social networking could use 40Billion also to raise money and grow businesses by leveraging their existing social networks,” said Cornelius McNab, 40Billion’s founder and chief executive.
“That’s why we’ve made it easy to log in on 40Billion with the same email address and password you use on those other sites. Your profile is automatically updated with relevant information about you, and you can invite your contacts from those other sites to join your network on 40Billion. This saves a lot of time and lowers the hurdle for entrepreneurs, investors, and friends who want to help build businesses, realize the American dream, and grow the economy.”
After signing in, each member can add people to their network easily by finding other members they know on 40Billion.com, inviting friends to join, importing their existing contacts from an email program (e.g., Gmail, Yahoo Mail, AOL, or Outlook) or from a social networking site (e.g., LinkedIn or Facebook), and sharing their profile on their LinkedIn or Facebook page. Furthermore, the service automatically suggests new contacts that the member may know.
Members use their profiles and contacts on 40Billion.com to help raise funding for a business, support businesses seeking funding and resources, and acquire new customers.
About 40Billion.com
40Billion.com is the social funding network for small businesses and startup entrepreneurs. 40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. Since 2008, the company has facilitated over $30 million in Raises and aims to address a $40 billion funding gap. 40Billion.com, Inc. is headquartered in Atlanta, GA.
SBRS score offers businesses and investors an alternative to personal credit scores when evaluating funding and loan requests
Atlanta, GA, January 24, 2011 – 40Billion.com, a micro-funding platform that facilitates business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online, recently announced the launch of the Social Business Rating System, a novel approach to rating businesses based on social and financial criteria other than personal credit scores.
The Social Business Rating System (SBRS), is a proprietary system developed exclusively by 40Billion.com to rate businesses based on criteria that really matter for success, rather than traditional credit scores. A unique SBRS score is generated for each business venture’s fundraising profile, and the score is based on 17 or more criteria, including business-related success measures, entrepreneurial profile, peer ratings, and reviews.
The SBRS score helps investors and entrepreneurs to compare business ventures and assess their potential likelihood of success. The highest possible SBRS score is 850, and scores are updated weekly.
“Banks typically use personal credit scores to determine whether or not to lend money to a small business, and most startup ventures don’t qualify for bank loans. This is very unfair,” says Harendra Jani, Vice President of Finance at 40Billion.com.
“SBRS is an innovative system that differs significantly from FICO, which relies on numerical figures based on personal credit history. SBRS evaluates business success measures and takes social factors into account, so it’s a great alternative or supplement to personal credit history when rating businesses and assessing risk. The SBRS score helps investors assess the credit worthiness of the entrepreneur’s venture, and it provides an incentive for entrepreneurs to improve upon these success criteria in order to increase their scores and potentially raise more funding at more affordable rates.”
The company has generated SBRS scores for thousands of small businesses and facilitated over $30 million in business fundraising projects since 2008. It aims to address a $40 billion gap in small business and startup funding by providing an online platform for social funding so that more entrepreneurs can have access to affordable business financing, realize the American dream, and help grow the economy.
About 40Billion.com
40Billion.com is the first micro-funding platform that facilitates American small business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, visit http://www.40Billion.com.
…
Social networking and finance tools to help college students and alumni share ideas, raise money, and start businesses
Atlanta, GA, January 12, 2011 – 40Billion.com, a micro-funding platform that facilitates business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online, today announced the launch of new social networking tools for students and alumni to raise money for businesses.
Using the free Internet service, college students and alumni can build their social networks of contacts, including classmates and friends from the same school and from different schools, and use these connections to raise money, resources, and support for entrepreneurial ventures. Members create personal profiles that include their education information, such as school name, degree, major, and graduation year. They can add one or multiple schools to their profiles and then invite people they know from each school to join their network. The service even suggests new contacts, automatically, based on their profiles.
“Many of the most innovative and successful businesses are started by college students and alumni, and now 40Billion.com makes it easier to launch a new venture with the support of your school. Whether you’re a Harvard dropout, a college graduate, an undergraduate, or a business school student, this is for you. If you’re starting a business, you have an idea for a new product, you want to help fund the ventures of entrepreneurs from your school, or you want to build your network, then this is for you. You probably already know someone using it,” said Cornelius McNab, founder of 40Billion.com and graduate of Yale University and MIT Sloan business school.
The company has facilitated over $30 million in business fundraising projects since 2008. It aims to address a $40 billion gap in small business and startup funding by providing an online platform for social funding so that more entrepreneurs can have access to affordable business financing, realize the American dream, and help grow the economy.
About 40Billion.com
40Billion.com is the first micro-funding platform that facilitates American small business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, visit http://www.40Billion.com.
…
We wish you success in 2011. Happy New Year!
The 40Billion team
Now, you can sign up and sign in with your LinkedIn account!
LinkedIn is a professional social networking site with over 75 million users worldwide, many of which are U.S.-based entrepreneurs, small business owners, business school students, alumni, business partners, and potential investors and funders.
If you’re currently using LinkedIn, you could benefit from using 40Billion too. That’s why we’ve made it easy to log in to both sites with the same username and password, your profile is automatically updated, and you can invite your LinkedIn contacts to join your network on 40Billion with one click.
Go to http://www.40billion.com/login.asp and click the “Sign in with LinkedIn” button to log in now. You’ll instantly be signed in on 40Billion, and your profile (including photo, summary, education, interests, honors, etc.) will be automatically created for you, based on the information that’s already in your LinkedIn profile.
And, with your professional profile completed on 40Billion, you can raise money for your business, invest or fund businesses, network and find resources to build businesses on 40Billion.com.
Oh, and if you don’t have a LinkedIn account, you can log in with your Facebook account too!
– The 40Billion Team
Additional social network funding option to help entrepreneurs create their own American dream
Nov 29, 2010 – Atlanta, GA, November 29, 2010—40Billion.com (http://www.40billion.com), a micro-funding platform that facilitates business capital fundraising through gifts and loans from an entrepreneur’s network of friends and family online, today announced the addition of an innovative Commercial Paper offering.
Commercial Paper is an unsecured Promissory Note to meet short-term liquidity needs. It is a lower cost alternative to a traditional bank line-of-credit (LOC). Commercial Paper, which has been in existence for over 100 years, is used commonly by large corporations to raise quick and low cost working capital. 40Billion.com is pleased to be able to offer this reputable financing option to small- and mid-sized businesses seeking to borrow $5,000 to $1,000,000 for up to 270 days.
“We see this as a true ‘win-win’ situation for both investors and borrowers,” said Harendra Jani, vice-president of finance, 40Billion.com. “If you asked entrepreneurs to name the most difficult obstacle to overcome when launching their business, the most common answer is likely to be access to low cost capital. Providing a venue to access low cost capital has been 40Billion.com’s mission since day one, and the addition of Commercial Paper speaks directly to that mission.”
40Billion.com aims to address a $40 Billion gap in small business and startup funding by providing an online platform for social funding so that more entrepreneurs can have access to affordable business financing through gifts and loans.
40Billion.com helps entrepreneurs:
“One of the many effects of the volatile credit market environment of the past few years is severely decreased access to affordable sources of business credit,” said Cornelius McNab, founder and CEO, 40Billion.com. “No segment has been affected more by this than entrepreneurs trying to live out their own version of the American dream. Today’s entrepreneurs are tomorrow’s employers. Providing access to capital for entrepreneurs will undoubtedly lead to job creation in the future, and 40Billion.com is proud to play a role in that process.”
About 40Billion.com
40Billion.com, Inc. is the first Internet-based microfinance company serving American small businesses. 40Billion.com’s scalable platform helps entrepreneurs raise funding more affordably through friends and family than through banks or other traditional financial institutions. Using proprietary online tools, entrepreneurs build social networks – including friends, relatives, colleagues, customers, and other contacts – and use these connections to raise capital through small business loans and gifts. Entrepreneurs create fundraising profiles and invite their connections to offer funding in exchange for discounts or potential returns. 40Billion.com, Inc. is headquartered in Atlanta, GA. For more information, visit http://www.40Billion.com.
Now, you can upload your business plan to your fundraising profile, and let visitors (i.e., potential funders) download your business plan easily with just one click.
In a poll of over 140 people, we found that a good business plan is the #1 most important factor in deciding whether to fund a friend’s or relative’s business.
The best thing you can do as an entrepreneur to increase your chance of success and raise money for your business is to turn your idea into a business plan.
The second best thing you can do is upload your business plan on 40billion.com when you start a Raise.
Please join us for an exclusive live product demonstration of the 40billion.com business micro-funding platform. This intimate webinar and demonstration occurs weekly on Thursdays at either 2-3pm or 7-8pm Eastern Time. Reserve your seat for an upcoming webinar below.
40billion.com is the micro-funding platform that helps entrepreneurs raise capital quickly, easily, and affordably through social networking so they can start and grow successful businesses.
The #1 reason why many small businesses fail is lack of adequate funding and access to resources. 40billion.com enables friends, family, and others to form networks, in which they can raise money for businesses, support and invest in businesses, and find resources to build successful businesses.
This live demonstration will share with you all that 40billion.com has to offer and allow you to ask questions of our expert presenters.
Register for a session now by clicking a date below:
Thu, Sep 30, 2010 2:00 PM – 3:00 PM EDT
Thu, Oct 7, 2010 7:00 PM – 8:00 PM EDT
Thu, Oct 14, 2010 2:00 PM – 3:00 PM EDT
Thu, Oct 21, 2010 7:00 PM – 8:00 PM EDT
Once registered you will receive an email confirming your registration
with information you need to join the Webinar.
To your success,
The 40billion Team
We’ve launched a new, innovative, and exciting addition to our business fundraising platform… Commercial Paper! Commercial Paper is ideal for existing businesses seeking short-term loans of $5,000 up to $1,000,000 for operating expenses or working capital.
Now, 40billion.com offers 3 alternative ways to raise funding for your small business: gifts & donations, private direct loans, and commercial paper short-term loans. Check it out, and start a Raise at http://www.40billion.com/raise_start.asp now.
To your success,
-The 40billion Team
We’re busy developing an innovative new product to facilitate short-term “commercial paper” loans for operating expenses. This will be available as a new funding type and a great potential solution to the short-term liquidity problems of millions of existing small businesses in America.
What is commercial paper (CP)? CP is an unsecured Promissory Note with a fixed maturity of 1 to 270 days. Think of CP as an IOU (i.e., “I owe you”), lasting from a day to nine months. It is issued to investors who have temporary idle cash and want to earn a decent return, perhaps even while helping out a friend/family member’s business with short-term liquidity (i.e., cash) needs to cover operating expenses or current assets.
But we’re creating a 21st century version, and never before has CP been offered as a solution for small businesses in the way that we’ll unveil in just a few weeks. Here’s a clue: It’s like Facebook and eBay for microfinance. Got it? Stay tuned, and check out 40billion.com for more info and the big launch date!
You may have noticed that there is now a unique score given to each Raise (business fundraising profile) on 40billion.com. This is the SBRS score, where SBRS stands for Social Business Rating System™. It is a proprietary system developed exclusively by 40billion.com to rate businesses based on criteria that really matter for success, not traditional credit scores.
SBRS generates a score for each Raise based on 17 or more criteria, including business-related success measures, entrepreneur profile, peer ratings, and reviews. It is a novel approach to rating businesses that does not exist anywhere else.
The SBRS score helps funders and entrepreneurs to compare business ventures and assess their potential likelihood of success. 850 is the highest possible SBRS score, and scores are updated weekly (not monthly like traditional credit scores).
What can entrepreneurs, small businesses, and startups do to increase their SBRS scores? Start by editing and updating your Raise, editing and updating your personal profile, and increasing your fundraising and social networking activity on the site.
Here are just a few things that may influence your business’ SBRS score and which you can control:
So, what is your SBRS score? If it’s currently below 550, then we believe you’ve got some work to do in order to increase your likelihood of success! Start with the tips above, and your SBRS score will grow along with your business over time.
We recently launched a new feature for giving and receiving recommendations in your social network on 40billion.com. Just click the “Recommend” button near the top of anyone’s personal profile page in order to give them a recommendation. You must be connected to that person first.
Here’s how it works in a nutshell:
Get people you know to recommend you today! Your friends, family, customers, clients, classmates and others may recommend you if you ask them to, especially if it’s as easy as clicking one button.
Recommendations can add credibility and make you stand out from all the rest.
We’d like to welcome Brent Wadman, our new General Counsel, to the team!
Brent is a litigator and corporate attorney with more than 11 years of experience. He volunteers substantial time and effort in the entrepreneur community and has created several businesses of his own. Brent has significant experience counseling corporations in IP licensing, litigation, M&A transactions, SEC compliance, corporate governance and general regulatory compliance. He has recently represented corporations before the SEC, State Attorneys General and foreign regulatory agencies.
In his career, Brent has been Assistant General Counsel of infoGroup, Inc., a publicly-traded, $600 million, marketing solutions provider for businesses; attorney and owner of Wadman Law, a corporate litigation boutique concentrating on corporate formation, commercial transactions, government contracting; and, Attorney at Ameritrade, Inc. a publicly-traded, financial services corporation providing online trading and investing, where he concentrated in NASD/FINRA compliance and maintained series 4, 6, 7, 23, 24 and 63 securities licenses.
Brent holds a BA degree from the University of North Carolina at Wilmington, and a JD from the University of Tulsa, College of Law.
Did you know that you can extend your Raise for additional months? Even if your Raise has already ended, you may extend it in order to continue raising funding for your business until you reach your funding target.
To extend your Raise, just go to your account at http://www.40billion.com/my_account.asp, click “Extend” next to the Raise you’d like to extend, and add up to 6 more months of time for only $9.99 per month.
Add more time to your Raise today!
We’d like to welcome Daniel Pugh, our new COO, to the team!
Dan is a business executive and corporate attorney with more than 16 years of experience leading and advising technology-driven companies and counseling business leaders, entrepreneurs, scientists, and venture capital investors. He particularly enjoys working with startups and early-stage ventures and has assisted these companies in all aspects of business including founding, organization, operations, early funding, venture and mezzanine investments, IPOs, public and private M&A transactions, intellectual property development and licensing, joint ventures, corporate governance, and many other areas. Most recently, Dan served as a strategic and project management consultant to the hedge fund Silver Point Capital, as business and legal consultant to Arbitron Inc. (NYSE:ARB) and Micro Focus (US), Inc., and as strategy and transactions advisor to numerous private companies and entrepreneurs.
In the role of company legal advisor, Dan has been General Counsel of Synthetic Genomics, Inc., a biotechnology startup focusing on synthetic biology and biofuels research and development, Vice President and Deputy Chief Counsel-Corporate of Prism Communication Services, Inc., a broadband telecommunications venture, and Senior Attorney with Arbitron Inc., the media audience and consumer research company. Dan started his career as an Associate in the Corporate Department of the law firm Piper & Marbury L.L.P. (now DLA Piper) representing entrepreneurs and venture capital funds and specializing in venture capital financing, M&A transactions, securities law, and technology licensing. He later was Of Counsel to the firm Davis Wright Tremaine LLP, working with similar clients and transactions.
Dan holds a BS degree from the Massachusetts Institute of Technology (MIT), a JD from the University of Maryland School of Law (where he served as Executive Editor of the Maryland Law Review), and an MBA from the University of Maryland’s Smith School of Business.
Now, when you raise money through gifts/contributions on 40billion.com, the payments go directly to your PayPal account (minus applicable PayPal fees), or funders can mail checks directly to your business’ address.
There is no longer a minimum required for you to raise, no waiting period before funds are disbursed, and no fee charged by 40billion.com for this service. That’s right: No minimum, no waiting, no fee!
Start a new Raise now (or edit your current Raise), and invite people you know to make direct payments to help fund your business.
Guess what? We just posted five new audio guides to startup success, and you can download the MP3’s here and listen to them in your iPod, on your computer, or just about anywhere:
http://www.40billion.com/startupguides/
In these quick startup guides, you’ll discover useful tips for:
* Funding your business through friends & family, angels, banks, and VC’s
* Writing a business plan in 13 easy steps
* Forming a company as a sole proprietorship, partnership, LLC, or corporation
* Managing cash flow so you don’t run out of money
* Protecting your ideas and intellectual property through patents, trademarks, copyrights, and NDA’s
The first startup success guide is free for you and each additional guide is only $0.99 here:
Innovative Tools Help Small Businesses Access Loans and Resources by Networking Online
ATLANTA, Georgia – July 28, 2009 – 40billion.com (http://www.40billion.com) launched new features to enable small business entrepreneurs to raise capital and access startup resources through friends, family, and others in their communities and social networks.
Most small businesses startups fail due to lack of adequate funding and resources, and there is a $40 billion gap in seed funding. By combining innovative tools with the power of the Internet, 40billion.com aims to bridge the gap and enable millions more small businesses to succeed.
About half of all new businesses seek financing from the entrepreneur’s friends and family, but it can be difficult to communicate business ideas and to manage funding relationships with many people. 40billion.com simplifies everything by enabling entrepreneurs to create business plan profiles and launch fundraising drives that are viewable anywhere via the Internet. And it is free to sign up and get started.
Entrepreneurs can broadcast their business ideas and funding requests to friends and family, even post them on popular social networking websites, and the service allows many people to make loans or gift contributions ($25 up to $10,000) in support of a business, while easily tracking and receiving notifications online.
Furthermore, lenders and borrowers may download a promissory note template, which they can use to formalize business loans in a more professional manner. Loan interest rates are negotiated between the lenders and borrowers, and 40billion.com emails notifications when funding offers are received and reminders when payments are due.
As an incentive, entrepreneurs may offer product discounts and freebies in exchange for low- or no-interest funding and other much-needed resources. Soon, for added confidence, those providing the funding will be able to track how the entrepreneur spends the funds that are raised.
There are additional features available exclusively for members, including the ability to schedule online business plan presentations, an open database of service providers, a job board for posting and browsing startup jobs, and a discussion forum (a.k.a., The Elevator) where everyone can share ideas and tips about what works and what does not. Members can even follow a company as it progresses, by signing up to receive alerts whenever the entrepreneur posts company updates.
Advantages over banks and other lending websites
Advantages over conventional friends-and-family loans
About 40billion.com
40billion.com helps entrepreneurs raise funding for new businesses through friends and family rather than through traditional financial institutions. Using the Internet-based service, entrepreneurs connect with their social network – friends, family, friends of family, colleagues, and others in their communities – to raise capital. 40billion.com’s scalable platform facilitates the funding requests and transactions to make it easier for an entrepreneur to manage many funding relationships. 40billion.com is patent pending. For more information, visit http://www.40billion.com.
40billion has just launched THE ELEVATOR business forums, where you can blog, post articles, and get advice/tips for entrepreneurs and funders.
THE ELEVATOR currently has 6 levels:
1. Business Basics
2. Funding Forum
3. Legal Lounge
4. Marketing Maze
5. Product Pipeline
6. Support Space
Visit www.40billion.com/elevator to start posting and reading today. New content is added daily, but feel free to add your own!
We’ve added new features to help you raise money and find resources for your business:
* FREE JOB POSTINGS
Looking to hire new employees or contractors for your business? Create a job posting that is visible to thousands of professionals and others seeking employment every month. It’s free!
To post a job, just sign in, click ‘Search’ and ‘Post a Job’.
* PUBLIC PROFILES
Now, you can choose whether to make your Raise (fundraising profile) private or public. By default, your Raise is private so that only invited friends and family can view it. However, you now have the option to make your Raise public so that anyone can view it (without an invitation and without signing in).
To make your Raise public, just sign in, click ‘Edit’, and uncheck the box next to ‘Make Private’.
Please continue to send us your feedback. 40billion.com was built for entrepreneurs, by entrepreneurs, so we welcome your ideas on how to make it better.
Now, you can formalize loans between friends and relatives for free! On 40billion.com, you can generate a customized loan document at no charge. Other websites charge up to $200 for similar services.
HOW IT WORKS
When a friend or family member views an entrepreneur’s Raise, they can offer a loan to the entrepreneur, then select the loan amount ($50 to $10,000), annual interest rate (0% or 5%), and period (12 or 24 months).
40billion.com calculates the interest and summarizes the loan terms, based on an unsecured loan with a single payment (one lump sum). 40billion.com instantly generates a professional loan document and notifies the entrepreneur via email regarding the loan offer.
The entrepreneur and lender can view the loan document online. They may print and sign the loan document, if they wish to execute a legally binding loan agreement between individuals. The lender may transfer funds to the entrepreneur by any offline method (e.g., check or cash) without worrying about extra charges and fees.
THE BENEFITS
– There is no charge, so you save up to $200 at a time when you need it most!
– Instantly generate a customized loan document to formalize a loan agreement between friends or family, without straining your relationship.
– Entrepreneurs receive affordable loans from one or many individual lenders they know; even manage 100 lenders easily.
– Lenders can offer a loan with up to 5% interest annually (a higher return than your savings account), while helping out a friend or relative starting a new business.
– Track loan payment due dates, and view/print the loan document as often as you’d like.
– Receive email notifications and reminders.
TRY IT NOW
Go to http://www.40billion.com, click ‘My Account’ and start a friends-and-family loan today.
In this tough economy, entrepreneurs like you are struggling to raise money to start new businesses or keep their existing businesses afloat. While big corporations are getting multi-billion dollar bailouts, who is bailing out small-business entrepreneurs? Many aspiring entrepreneurs are turning to friends and family for help during these tough times, and 40billion.com makes it easier than ever to tap into your social network and raise money for your business or idea. Here’s what we’re doing to help you, in lieu of a bailout package…
WE’VE EXTENDED YOUR RAISE
Your Raise (fundraising profile) has been extended up to one additional month, at no extra charge. Your Raise is now scheduled to end on December 13, 2008. Even if your Raise had ended, it has been reactivated with the new end date. So sign in, invite your friends and family, and start raising the money you need for your business through small loans and contributions.
WE’VE LAUNCHED NEW FEATURES
We’ve added new features and made significant improvements to help you raise money for your business. Some of these include…
* New loan document service:
Instantly generate a customized loan document to formalize a loan between friends or family, without straining your relationship.
* Posting on Facebook or MySpace:
Post links to your Raise on your Facebook or MySpace page. Increase your exposure, and allow your friends and family to access your Raise easily from your Facebook or MySpace page.
* Access to your email contact list:
Easily import your contact lists (or address books) from your existing email accounts, whether you use Yahoo, GMail, AOL, Plaxo, or Outlook. No need to type all those email addresses, when sending invitations to your friends and family.
* New default invitation messages:
You always have the ability to customize your email invitations, but we’ve made things easy for you by providing default invitation messages that are friendly and professional. Also, now when you send an invitation, the recipient does not have to sign in (or join) to view your Raise; however, they do have to sign in to offer funding and access other site features.
* New email notifications:
Now, we send you an email notification whenever you receive a loan offer or contribution, when you receive a message from someone who has viewed your Raise, and when another member grants you access to their private Raise. We do much of the work, so you can focus on your business.
…and much more.
Sign in to your account, and check out the improvements we’ve made. And with the extra time you have between now and December 13th, invite your friends and family to help you raise money for your business with a small loan or contribution towards your target.
We’re excited to announce the launch of a new lending service on 40billion.com! Now, entrepreneurs can seek loans from friends and family, and 40billion.com will create a customized loan document to formalize your loan agreements. By automatically generating a customized loan document for you, we’ve made it easier for lenders and borrowers to formalize a personal loan between friends or family members.
HOW IT WORKS
When an entrepreneur starts or edits a Raise (fundraising profile), now he can select “Loans” as a funding type (in addition to “Contributions”) to indicate that he is seeking loans towards his funding target. Then, he can invite friends and family to view the Raise and make an investment as a loan to the entrepreneur.
When a friend or family member views the entrepreneur’s Raise, she can offer a loan to the entrepreneur. She selects the loan amount ($50 to $10,000), the annual interest rate (0% or 5%), and the period (12 or 24 months).
40billion.com calculates the interest and summarizes the loan terms, based on an unsecured personal loan with a single payment (one lump sum). 40billion.com instantly generates a professional loan document.
Both the borrower and the lender can view, print, and sign the loan document as a legally binding loan agreement between the two individuals.
THE BENEFITS
– Instantly generate a customized loan document to formalize a loan agreement between friends or family, without straining your relationship.
– Entrepreneurs receive affordable loans from one or many individual lenders they know; even manage 100 lenders easily.
– Lenders earn up to 5% interest annually (a higher return than your savings account), while helping out a friend or relative with a new business.
– Track loan payment due dates, and view/print the loan document as often as you like.
– Receive email payment reminders.
TRY IT NOW
Sign in at http://www.40billion.com, raise money or fund a new business, and formalize your loan with a loan document today.
New Service Helps Entrepreneurs Raise Money Through Social Networks of Friends and Family
ATLANTA, Georgia – July 30, 2008 – 40billion.com (http://www.40billion.com) officially launched today as the first 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.
“40billion.com is a great way for me to finance my startup,” said Dave Mack Jr., who is developing an online social network for theatre artists to connect and find work. “It helps me raise money affordably from many people I already know, and without worrying about ruining my relationships with them.”
Many businesses get started with financing from the entrepreneur’s friends and family, but it is often difficult to manage these relationships. 40billion.com allows many investors to give small amounts of money and spread the risk. Furthermore, the service provides communication tools to increase transparency between the entrepreneur and her investors.
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.
“We are addressing a $40 billion gap in funding for small businesses, and our goal is to help all those hardworking entrepreneurs that have good ideas but don’t have the money or resources to get started,” said Cornelius Colin McNab, Founder of 40billion.com. “The economic downturn has led to a credit crunch, where banks and venture capitalists are tightening up, and entrepreneurs need alternative ways to gain access to affordable capital.”
McNab, who is an inventor with three patents and holds an MBA from MIT and a degree from Yale, is confident that his company can bridge the funding gap by allowing ordinary people to become investors. “That’s how we got started. Investors contribute as little as $50 or $100 each, but these small investments really add up. If forty friends and relatives contribute $100 each, that’s $4,000 that the entrepreneur can use to incorporate a business, build a website, print business cards, lease space for three months, file a provisional patent, and create a prototype or sample inventory.”
Currently released as a beta version, 40billion.com soon will offer more funding options (including loans), social networking features, and a unique rating system to enhance the quality of entrepreneurs and build investor confidence.
Advantages of 40billion.com
About 40billion.com
40billion.com helps entrepreneurs raise money for businesses through friends and family rather than through traditional financial institutions. Using the Internet-based service, entrepreneurs connect with their social network – friends, family, friends of family, colleagues, and others – to raise capital. 40billion.com’s scalable platform facilitates the funding requests and transactions to make it easier for an entrepreneur to manage many investors. 40billion.com is patent pending. For more information, visit http://www.40billion.com
There is a $40 billion gap in funding for startup entrepreneurs. Many small-business entrepreneurs raise initial funding for their business ideas by borrowing money and getting gifts from their friends and family. 40billion.com just makes it easier, more scalable, and more fun for entrepreneurs and their friends and family to arrange business loans and gift contributions. And it’s about time!
40billion.com provides you, the entrepreneur, with the opportunity to set up your own private fundraising machine. In it’s simplest form, it formalizes and makes scalable the process of raising funds through family and friends, making an often difficult task easy and comfortable. Once you have completed your business plan and determined how much money you need to fund your business, make a list of all your family and close friends. With the business plan uploaded to your newly-created, private profile on 40billion.com, you are ready to begin raising money through gift contributions and loans.
40Billion Blog for Startup Entrepreneurs and Small Businesses 