40Billion.com Launches Social Network for Student Entrepreneurs and Alumni

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.

 

How To Use Social Networking To Raise Money For Your Business

40Billion.com Launches Free Social Networking Tools for Small Business Entrepreneurs and Startups Seeking Loans and Resources

By Cornelius Colin McNab, 40Billion.com

Looking for funding to start a new business? Need to raise startup capital, but don’t know where to go? Well, you may already know hundreds or thousands of potential financing sources that you interact with every day. This article exposes five simple steps to raise funding by leveraging your social network online.

It is estimated that half of small business entrepreneurs raise money through friends and family to fund the first phase of their startups, but it is often difficult to manage these relationships. With Internet social networking, it can be much easier to raise money while maintaining your relationships. So what steps should you take to raise funding for your business through friends and family? How can you increase your access to capital and resources by leveraging your social network? 

  1. Upload Your Business Plan
    A recent poll of 140 people found that a good business plan is the #1 most important factor in deciding whether to fund a friend’s or relative’s business. One of the best things you can do as an entrepreneur to increase your chances of raising money is to turn your idea into a business plan, and make your business plan accessible to people you know. Some services allow you to upload a document and share it on various social networking websites quickly and easily. However, be careful not to upload any confidential information or intellectual property that you don’t want publicly known.

  2. Create A Social Funding Profile For Your Business
    After you’ve written a compelling business plan, you need to make sections of it available to your potential funders. Create a business profile online that people you know can easily access on the Web. The profile should provide insight into your vision and plan for the business, how much funding you need and why, and what you have to offer in return – e.g., rewards and discounts on products or services you sell.

    In the last three years, social funding websites, such as 40Billion.com® (http://www.40billion.com), have launched that allow you to create your own profile page and use it to raise money for your business. You can even make your profile private in order to limit access only to invited people you know and trust, not strangers.

  3. Invite Your Friends And Build Your Network
    After you’ve created your business fundraising profile, broadcast it to people you know. Invite your friends, family, community members, neighbors, and others in your social network to view your business profile, contribute towards your funding target, and spread the word. Post a link to your profile on any online social networking websites that your friends are on, such as Facebook® and LinkedIn®, or simply invite all of your friends to join you on the social funding website if it has built-in social networking tools. The more people you share your profile with, the better your chances of raising the financing you need.

    For example, imagine you need to raise $40,000, and you invite 40 friends to contribute $100 each in support of your startup. You may even propose to reward them with a free trial or discount when your business is up-and-running. Each of your 40 friends invites 40 more friends to contribute. Together, 40 x 40 = 1,600 people helping to raise money for your business. If just one out of every four contributes $100, then you’ll easily reach your target.

  4. Use Automated Payment Methods To Collect Funds
    Now that you have potentially thousands of people interested in funding your business, how do you make it easy for them to send you money and for you to track all of the transactions? There are online payment processing services, such as PayPal®, that facilitate fundraising by handling the transactions as donations or payments for goods and services. These online payment processors enable the funders to transfer funds from their bank accounts or credit cards to the entrepreneur, while making it easier for the entrepreneur to keep track of all the transactions in one place.

  5. Keep Your Promises And Keep In Touch
    After you get funded, what then? Be sure to thank your friends and family who believed in you and supported your venture. Distribute any rewards that you had promised to your funders, and be sure to keep the lines of communication open by sending them regular updates to let them know how their support has helped you fulfill the “American dream.” A great benefit of social networking sites is that it’s easier than ever to send messages and stay in touch with friends. These communications will go a long way in helping you maintain good personal and professional relationships, and your friends will be more likely to support you again in the future as funders and even as customers. 

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.

Cornelius Colin McNab is the founder and chief executive of 40Billion.com, a micro-funding site that facilitates business capital fundraising through social networking online. Cornelius earned a bachelors degree from Yale University and a masters degree in business administration from the Sloan School at MIT.

Copyright 2010, 40Billion.com Inc. All rights reserved.

40billion.com Introduces Commercial Paper Offering



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:

  • Gain access to needed funding to start and grow their business, with more funding options, and at rates that are lower and more affordable than most alternatives.
  • Formalize the terms of funding in order to reduce the risk of ruining relationships with friends-and-family funders, while building a network and reputation that they can utilize for future funding needs.
  • Take advantage of unique features that are created specifically for entrepreneurs that need to raise money.
  • Find trusted resources and services for their business, such as incorporation or company formation.
  • Acquire customers by offering services to other members on 40Billion.com.

“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.

Grab a widget! Add a custom widget on your website or blog for easier access to your business fundraising profile.

It’s easier than ever before to share and access Raises (business fundraising profiles) all over the Web. Just add a 40billion widget to your own website or blog. Simply copy the embed code and paste it into your website’s code wherever you want the widget to appear.
 
You can grab a widget for any Raise that you have access to on 40billion.com. Just click “Widgets” at the bottom of the page.
 
Want to try out an example? Visit our sample Raise and then click the Widgets link at the bottom of the page. Copy the code in the box for the widget that you want to use, and paste the code into your website or blog.
It’s just as simple as adding a YouTube video to your website or blog, and it’s FREE.
 

Want to learn more about 40billion.com and get tips for raising capital through people you know? Sign up for our upcoming webinar and see live demos.

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

New funding option launched: Commercial Paper short-term business loans for operating expenses

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.

Raise business capital from the people you know on 40billion.com

To your success,

-The 40billion Team

COMING SOON: Short-term working capital loans, a.k.a. “commercial paper”

Short term business loans coming soon to 40billion.com

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.

  • By law, CP can be used to fund operating expenses or current assets only (e.g., buying inventory, making payroll, or other short-term cash needs). It is not used for financing fixed assets such as land, buildings or machinery, which are long-term assets.
  • CP is a quick, easy, and cost-effective way of raising working capital and can be a lower-cost alternative to a Line-Of-Credit (LOC) with a bank.
  • CP has been around since the 19th century and is typically used by big corporations to raise quick and low-cost working capital.

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!

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