Assuming you are confident that your business is a solid crowdfunding candidate, you must prepare to mount a campaign by pulling together all the information you will need to get approved for posting a loan and creating your loan offering document. Here are the general categories of information that are required:
- Personal information such as name, address, birthdate and social security number.
- Business information such as legal entity, tax ID, detail on owners that hold over 20% of the business and a list of any outstanding debts.
- How much you want to borrow, for what duration and for what proposed interest rate.
- What you intend to do with the loan.
- Personal documents such as bank statements and tax returns.
- Business documents such as operating agreements and tax returns, and financial documents that were reviewed by your accountant including balance sheets, cash flow and profit & loss statements.
- Marketing materials including business description, photos and videos.
- Your business experience and that of the management team.
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