How long does the process for a PP take?
There are two parts to this question: first, document preparation and second, raising the funds. Document preparation depends on a number of factors like: how complete is your business plan (we offer multiple critiques and guidance as part of our package), is your company structure completely established; proper authorized common and preferred stock along with a stock option plan for C Corporation, management and operating agreements for LLC's (we'll guide you through this process too). The answer really depends upon how fast you can respond to the information we need to create an exceptional document. Commonly, it takes three to six weeks (really fast is two weeks), the longest has been 1 1/2 years (this entrepreneur was really busy running his company).
Secondly, you have up to 12 months from the date of your prospectus to raise the funds. Usually, you will have a really good feel within the first 30 to 90 days. We have had projects that fully funded in two weeks and others that didn't raised a dime in 10 months. The quality of your project and the amount of hard, diligent effort you apply reflects in the timing and success of all fund raising. It's hard work!
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