Definition:

Crowdfunding means financing a product, idea, or venture using small amounts of money raised from the “crowd,” or members of the public. Crowdfunding is typically associated with a large number of individual investors or donors.
Crowdfunding initially started when entrepreneurs or organizations would turn to the crowd to raise funds for projects needing funding.

crowdfunding loan definition

Example:

Funding would come in the form of donations, though platforms would occasionally offer rewards for different donation levels. Kickstarter, Indiegogo, and Tilt are all examples of donation- and rewards-based crowdfunding platforms.

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