4 Steps to Crowdfunding Success

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. There are billions of dollars being exchanged on crowdfunding platforms, and over 30 percent of small business owners would consider crowdfunding if they knew more about it. Here are four basic steps to getting started.

1. Choose the right type of funding and platform for your goal.

There are numerous crowdfunding sites, so take the time to visit several sites and browse projects similar to yours to find the platform that's right for you...