Funding Period
This is the period of time your tribe has agreed to work together to fund your business. Most groups agree to at least 24-months. This is your capital creation time. It is likely the funding period will continue beyond your tribe’s first transaction.
Funding Round
These are the guidelines you and your tribe discuss and agree to that govern the saving period. These rules determine the following:
- How much? On a monthly and/or scheduled basis, the amount of money that will be automatically withdrawn from your personal account and moved to your Tribevest savings account.
- How long? This is determined by the due date for that funding round. The due date establishes the amount of time each member has to meet that funding round’s contribution obligation.
- Who? Which members of the tribe will be participating in the funding round. Any or all members can be assigned to a specific funding round. Once the funding round becomes active, the agreed-upon funds will be withdrawn from each member’s linked account and deposited in their established Tribevest savings account.
- Start Date. The date transactions will begin to take place and the day of the month that subsequent withdrawals will take place. For example: if your tribe has a start date of January 1, the first withdrawal will take place on January 1st with all subsequent monthly withdrawals taking place on the 1st of the month or as close to the 1st as possible taking in account weekends and holidays.
- Voting Threshold. The minimum percentage of tribe members that need to agree to a proposed topic/action for that topic/action to be considered approved by the tribe. For example: when it comes time to make your first transaction, like deciding on your first property to purchase, the numbers of members that will need to agree on the property for it to be an official affirmative group decision.