Brewer, Vintner and Distiller: How it works
If you have a project, and would like to join the Sustainable Buzz movement, complete the registration form, and EcoDrinker will contact you to discuss the opportunity.
Once your project is approved, you can start building your campaign page.
If you do not have a specific project in mind, EcoDrinker.com can introduce you to a variety of approved consultants and vendors that can assist you. See the Project Types page for more details, and the Links page for some vendor names and contact information.
THERE ARE NO FEES TO JOIN ECODRINKER.COM OR TO POST YOUR PROJECT!!!!
EcoDrinker.com charges an 8% fee that is added to the project cost or bid, and becomes part of the total loan request. For example, if a project cost $75,000, and EcoDrinker.com fees are $6,000, $81,000 needs to be loaned by the crowd. The total amount, including interest, to be repaid by Brewers, Vintners and Distillers would be based on a loan amount of $81,000.
Risk is determined by the crowd, but EcoDrinker reviews projects to ensure they meet the following criteria for eligibility:
- There must be a definable environmental benefit from the project.
- It is the intention for borrowers to repay lenders from realized savings from their projects. Is there enough potential savings to help offset future payment obligations?
- The CBVD agrees to share the data from their utility bills with EcoDrinker.com.
- The borrowers are responsible for all tax related issues, including rebates, IRS filings, and other related issues, and holds EcoDrinker.com harmless. How an borrower should account for the loan is between them and their accountants.
Building your Campaign:
Once a project has been approved, the Brewers, Vintners and Distillers begins building their campaign page. It is at this time that incentives need to be identified. EcoDrinker.com uses a tiered based platform, where incentives increase as the loan amount increases. A word of caution, be careful what you offer. A typical project may have a cost of $85,000, and the typical crowdfunder contributes $30 per campaign. This means you could have 2,000 lenders. Don't offer T-Shirts to the lower tiers unless you can afford to make them. To save on shipping costs, some incentives should only be redeemable at the location. Keep in mind, your customers are your lenders. If you don't come through, you are only hurting yourself, and your biggest fans. Check out some of the incentives offered on the sample project pages. Videos, pictures, and other customizations add to a campaigns appeal to Lenders, so get creative. Tell your story. Showcase your products, and detail how the environment, and the community will benefit.
Another factor to consider is time. Most bids for work expire after 60 or 90 days. Bids must still be valid once funds have been raised for projects to proceed. This also means that if you propose any marketing around your campaign, you should plan ahead. The campaign building process can take a few weeks, depending on the status of your project.
With your campaign page completed, it's time to go live. Brewers, Vintners and Distillers can distribute the link to their campaign to email distribution lists, post on social media and any other marketing tool to publicize your project. EcoDrinker.com will actively use social media (Facebook, LinkedIn, Reddit, Twitter, Instagram, and others) to spread the word about new projects, projects close to funding goals, projects running out of time, and others. EcoDrinker.com will work to bring visitors to the site, target market based on demographics, but it is up to the Brewers, Vintners and Distillers to engage their current fan base to help. It is all of our best interests for the campaign to be successful!
When a project is successful in reaching its funding goal, the funds are deposited into an Escrow account, where they are held until project work begins. EcoDrinker.com will pay the contractors directly based on the contract terms. Brewers, Vintners and Distillers do not receive any cash. Repayments on the loan will not begin until one month after all work is completed. Contract terms will average 5. Interest rates on the loans will be based on assessed risk by EcoDrinker.com. Willingness to fund the project will be based on assessed risk by the crowd.
If a project is not successful in reaching its funding goals, Brewers, Vintners and Distillers can try again with a different project with different incentives and fund raising goals.
Crowd sourced lending will increase customer loyalty and create the opportunity to build a new fan base. EcoDrinker.com will actively promote all projects posted on the site through various social and digital media to reach a broad fan base. Distributed risk enables Brewers, Vintners and Distillers that may not be credit worthy using traditional methods to leverage their perceived value in the marketplace to drive their attractiveness to lenders.
After successful funding, Brewers, Vintners and Distillers can engage with their Lenders in new ways, using their personalized home page and messaging tools to highlighting their progress in the reduction in their carbon footprint, and promote their products in general. The customized project home page will provide Brewers, Vintners and Distillers multiple ways to communicate with their lenders, including updates, conversation threads, promotions and others.
The goodwill generated by being proactive in the reduction in greenhouse gas emissions, conservation and sustainable manufacturing will benefit the Brewers, Vintners and Distillers reputation. In addition, some projects can include training for staff on energy efficient practices that enable team building opportunities and additional savings that can move beyond the workplace, and into homes, neighborhoods and the community at large to have maximum impact.