May 9, 2018 – In case you haven’t heard… there is a local crowdfunding resource right here in river city. It’s called nvsted and it was created by the St. Louis Economic Development Partnership to support local businesses with raising money. Here is the quick rundown from their 1 Million Cups presentation.
What it is:
- Crowdfunding platform that is focused on St. Louis businesses – both existing and startups
- Business owners can break through “capital roadblocks” to build successful companies that grow and stay in the STL region
- Opportunity for investors to support and build the local community
- Accepts both accredited AND non-accredited investors in investment opportunities
- The website provides guidelines for creating a profile, campaign and legal documents – all required to run a successful campaign.
- No equity is taken, just a one-time setup fee of $2,200 – $2,500 for required filings and escrow and a success-based fee of 5% of a campaign—which will be reinvested into the community.
- Raises can range from $50K to $1M in a 12-month rolling period
- Generally, you can determine the amount of investments and number of investors for your campaign – of course you’ll need to give consideration to campaign costs & administration.
So what are you waiting for? Check out NVSTED now!