40billion.com is the entrepreneurs' micro-funding platform, matching entrepreneurs and funders through an online network of friends and family. We are addressing a $40 billion gap in startup funding by creating an online platform for social funding (a.k.a. "love money", microfinance, social lending), fundraising, and investing so that more entrepreneurs can have access to affordable business financing through loans and gift contributions.

    The #1 reason why many small businesses fail is lack of adequate funding and access to resources. Together, we can change that statistic, and we can help the 650,000 new businesses formed each year and almost 26 million existing small businesses in the U.S. to increase their chances of success. 40billion.com enables friends and family members to form private networks, in which they can raise money for a new business, fund a business, and find resources to build a successful business.

Market Overview

    There is a credit crunch ensuing in the US due to a declining economy, a falling dollar and banks tightening up their lending practices. Consumers and small businesses are finding it more and more difficult to get financing at affordable rates. The growing demand and reduced supply of affordable financing are accelerating the growth of the person-to-person microlending market, from $650 million in 2007 to $5.8 billion by 2010 (according to Celent), and to $9 billion by 2017 (according to Wall Street Journal and Online Banking Report).

    The average cost of starting a small business is $10,000, and approximately 7% of the working age population is actively engaged in efforts to start a business; i.e., approximately 13 million people this year. Furthermore, there are approximately 26 million existing small businesses, which represent 99% of all employer firms in the U.S.

Benefits of 40billion.com

    40billion.com makes small-business funding and resources more accessible, more affordable, and more efficient.

ENTREPRENEURS:

1. 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.
2. Can take advantage of unique features that are created specifically for entrepreneurs that need to raise money; such as scheduling live presentations/pitches online!
3. Are able to build a network and reputation that they can utilize for future funding needs.
4. Can find trusted resources and services for their business.
5. Can acquire customers by offering services to other members on 40billion.com.

FUNDERS:

1. Have the satisfaction of helping a trusted friend or family member to fulfill his or her dream.
2. Can gain social and financial returns. What goes around, comes around!
3. Can get involved in new businesses.
4. Can mitigate risk by funding small amounts of money (as little as $50) and spreading the risk across a larger number of funders.

Our Management Team

    The talent behind 40billion.com includes a seasoned software technology executive, a seasoned financial services executive, and a serial entrepreneur/inventor with 75 years of combined experience in information technology and financial services.

Cornelius Colin McNab - Founder & CEO

    Cornelius is a digital media entrepreneur, idea guy, and manager of new product development and innovation, with experience launching Internet and media-related businesses for over 10 years. He has held leadership and consulting roles in product management, business development, and software engineering with Fortune 1000 corporations such as AT&T, Time Warner, IBM, and Pitney Bowes, as well as Internet companies such as AutoTrader, OmniLinks, and TheyAnswer. He is an inventor with 4 patents issued and has been featured in Boston Business Journal, Mass High Tech, and US Black Engineer & IT Magazine.

    Cornelius holds a bachelors degree from Yale University and an MBA from the Sloan School at MIT (Massachusetts Institute of Technology). He is originally from the island of Jamaica, has traveled as far as India, and was the president of a local Toastmasters Club in Atlanta.

Harendra "HB" Jani - VP, Finance and Regulations

    Harendra is a seasoned finance and accounting professional with 33 years of experience, including 25 years at the National Credit Union Administration (NCUA). Harendra managed and conducted examinations of federal credit unions of varied assets size and developed turnaround strategies for “problem” credit unions. He helped lead many back to profitability and financial soundness, for example, saving the NCUA’s National Credit Union Share Insurance Fund more than $500,000. He also assisted credit unions with mergers, conversions and liquidations, and, where necessary, suspended charters and officials.

    Before joining the NCUA, Harendra worked for the Internal Revenue Service (IRS), where he conducted field examinations of complex individual and corporate tax returns to ensure compliance. He started his career working as a tax accountant for City of New York, performing desk audits of individuals and corporate tax returns to ensure tax code compliance, preparing assessments and meeting with tax payers.

    Harendra holds a bachelors degree in accounting and a law degree from University of Bombay-India, as well as an MBA from Long Island University. Fluent in seven languages, he was born and raised in India, and has lived in the U.S. since 1970.

Warren K. Neuburger - Member, Board of Directors

    Warren has over 32 years of broad executive management experience in technology companies in a variety of markets and industries. Over the years, he has held a range of senior executive management positions in Atlanta, San Francisco and Boston including 3 public companies and several emerging private companies. He has also served on the board of directors of several domestic and European companies.

    In his executive roles, Warren has led the growth and turnaround of several companies through innovative sales and marketing initiatives and operational efficiencies, and he has had direct involvement in mergers, acquisitions, and divestitures. He has extensive international business experience from companies such as Digital Equipment Corporation, Glenayre, and Concurrent Computer.

    Warren holds a masters degree in electrical engineering from Georgia Institute of Technology, and two bachelors degrees from Syracuse University in both electrical engineering and mathematics.