Frequently Asked Questions
- What do I need to get capital from MavenCORE?
You need a few things:
- A business idea or a project meant to generate profit
- Ksh5,000. Immediately after creating an account on our website, you will deposit this into your MavenCORE wallet for use later. If you have been invited by an affiliate, you can get a 50% discount requiring you to have only Ksh2,500.
- Optional: A portion of the capital your project requires – at least 10% of the total capital you need
- Can you give me a viable business idea?
No, the ideas have to be yours ?
- What if I don’t have the 10 percent?
The basic arrangement is for you to have 10% of the capital you want to raise through MavenCORE crowdfunding. For example if you need 2 million, you need to have 200,000 before you can post your project on this platform. However, there are other alternatives:
- You can convert the Ksh5000 to a fee thus avoiding the 10% requirement
- You can join our affiliate program, earn enough commission to reach the 10% of your total budget then you can post your project
- What happens to the money (Ksh5000) I deposit if my crowdfunding campaign does not succeed?
Mavencore gives you a full refund. You can claim this refund at any point after 180 days elapse from the day you create your project. If you request for a refund earlier, we’ll deduct Ksh500 and refund the balamce
- What if people only contribute a fraction of the budgeted figure?
There are several ways to handle this. For instance, you can extend your deadline at any point to give people time to contribute more. Alternatively, if the amount contributed is equal to or higher than the bare minimum your project needs to run, you can start the project as you wait for further support. If the amount is too small, you can instruct MavenCORE to refund to the supporters.