Why can’t I change my minimum funding goal? How do I change my maximum funding goal of my Reg CF campaign?
Setting the terms of your offering can be difficult and oftentimes intimidating. We understand that most companies want to raise as much money as possible, but StartEngine has set “default” minimum and maximum funding amounts based on best practices we have seen on our site.
StartEngine’s default minimum funding goal is $10,000.This cannot be adjusted as it allows companies the opportunity to withdraw funds through rolling closes once they have exceeded that funding goal in cleared funds, and have been live for at least 21 days. This way, companies have the ability to withdraw these funds from the offering to promote the campaign or put back into their business as described in their use of proceeds.
StartEngine’s default maximum funding goal is set at $107,000. We do this so that companies can launch their offering without having to pay for an independent accountant review. We understand that most companies would like to raise more than $107,000, the SEC simply requires that a company provide an accountant review conducted by an independent CPA in order to raise their maximum beyond that $107k threshold. If you have already conducted a review of the previous two fiscal years, or are in the process of getting a review conducted prior to launch, please email hello@startengine.com and we can adjust your maximum for you.
Want to start with $107,000 and expand up to $1 million later? No problem! See these steps on how we can help you do that.