Wake Forward

CrowdfundNC, Wake Forward, and others in Wake County are working together to see how a partnership could increase access to capital and create opportunity for businesses to drive sales.  This program may provide matching funds based on the existing Wake Forward program and a commonly used Investment Crowdfunding offering called Revenue Share loans. 

How Does it Work?

Any approved business (including sole proprietors) that meet the criteria of Wake Forward can raise capital from their patrons and then could have it doubled by matching funds from Wake Forward.  ex. $100K in funding – Raise $50K from your crowd of fans (e.g. customers) and have Wake Forward match $50K.

So What are the Details?

A business that raises $50K from their patrons might offer 1.5x return over 5 years by paying 5 cents on every dollar in revenue with no payments for 6 months.  A $50K additional capital match from Wake Forward could potentially require no payment for 6 months and then payments would be due on the principal, along with interest payments at 5.5%, for the following 48 months. So for every $100 raised…

– $150 is paid out to the investor (e.g. your patron) –

– Leverage investor ‘perks’ to drive sales (ex. Tues is investors day…bring a friend, both get an app 20% off w/ purchase of entree) –

– Investors are incentivized to drive sales beyond projections because they get paid more quickly –

– Use increased revenues to grow your business and/or pay back the Wake Forward Loan more rapidly –