How VJF Crowdfunding Works
Crowdfunding of projects, products and causes has become increasing popular. Popular websites offer it as a service, typically with a specific focus and set limitations.
The VJF approach offers small businesses in our region the possibility of using the Internet to raise funds for growing their business and creating new jobs. We will request basic background information and will screen applicants against our qualification criteria.
Our program will be restricted to applicants in the region that are organized legally as a business entity and are offering or soon will offer a specific product or service. We will not be supporting pre-business product concepts or programs to commercialize a new technology.
If a particular project fosters our charitable mission, bringing jobs to struggling neighborhoods or low income groups, those funding the project may qualify for favorable tax treatment. This will be indicated for qualifying projects.
Some projects may elect to provide premiums to supporters. Any such offers will be entirely between the sponsor and the company associated with the project, with no involvement of the VJF. Sponsorship of projects including premiums will not be treated as charitable contributions.
Those wishing to support a project will first open an account that gives access to fund projects and the opportunity to join our community interested in supporting small business jobs growth.
We will launch the program mid 2014 with an initial pilot phase involving a small number of projects. This will allow the VJF to determine if any changes in the program or the functionality of our online platform should be implemented. Following this pilot, the program will be open for broader participation.
Support our regional small businesses fund their growth through the VJF Crowdfunding platform.