Author: Jessica Hall
Source: Kennebec Journal
Interest: Maine officials recently issued an advisory warning investors to approach crowdfunding investment opportunities with caution, but for several local entrepreneurs such alternative funding has been a lifeline. "Crowdfunding" describes what happens when businesses solicit small amounts of financing from nontraditional lenders. It's frequently done by smaller businesses appealing to a loyal fan base, or if the business can't get traditional financing from a bank or investment firm.