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W W W. M A I N E B I Z . B I Z 29 A P R I L 2 , 2 0 1 8 F O C U S B A N K I N G / F I N A N C E in a row before launching, build an email list, line up infl uencers on social media, people who can connect with the audience you want to reach." Risk and reward Strojny says there is money available from a variety of sources. ere are pitch contests, from big ones like Launchpad, to small ones across the state. ere are micro-lenders and angel investors. Municipalities have economic devel- opment funds that may off er grants to businesses that will help the community. She adds, though, entrepreneurs should take advantage of knowledge and counseling that's off ered, too. Fledgling startups can fi nd plenty, including from SCORE. At Gorham Savings, too, lenders will counsel those who aren't ready for fi nancing, helping them understand what their next steps are. "We don't want to be the bank of 'absolutely not,'" Viola says. Donnelly and Viola say the entre- preneur the bank helps with advice is a potential future customer. "We abso- lutely see success stories," Donnelly says. And people should be prepared to contribute to their own cause. Donnelly says that "99% of the time, they have to pledge their own assets." Strojny agrees — no matter how entrepreneurs are seeking fi nancing, they have to be prepared to be an active part. " ey want you to show you have some skin in the game," Strojny says. "It's puzzling to me, you think I'd put money in your business, but you won't? It's all about risk and reward." Schmitz knew from the beginning that she'd have to fi nd nontraditional fi nancing. "Maybe going forward in the future, but I also need to demonstrate revenues, and have collateral. When you're fi rst starting out with a seed of an idea, that's not something you have," she says. e work over the past year or more was about more than raising money. e Kickstarter campaign also determined if people would pay for her product. " e focus groups were nice. People wanted to be nice," she says. "But it's really hard to gauge if people will pay for it. Kickstarter and crowdfunding is a way to really measure if people are willing to. It's an opportunity to put it out there." As rewards for donating, she off ered credit for the app once it's online. e amount of money raised "was hugely val- idating and so exciting and so intense." Schmitz says crowdfunding is also a way to build community. "All these peo- ple are rooting for you. [ e process] can be discouraging, especially when you're doing it on your own, but it makes a big diff erence and helps you push through those diffi cult times," she says. e campaign allowed her to reduce the hours at her job in October to 30 a week, but she still works nights, holi- days and weekends on mybodymodel to get it from prototype to reality. She's a member of this year's Top Gun Portland group, which provides mentoring and a chance at a $25,000 grand prize. She's building an email list at her website, mybodymodel.com, for newsletter mailings, which will start soon with a beta resting release. Schmitz has 18 sewing and knitting bloggers and vloggers testing the app now. " ey are a beautifully diverse team of testers," she says. She said they're also encouraging and supportive. "Everything always takes longer than expected to," she says. " ere are days you never think it's going to hap- pen, but you push through." Launch of the website is planned for this fall. It's possible there will be busi- ness-to-business applications in the future, but for now she hopes hobby- ists, fashion and costume designers will be excited about it, and that it'll be a success. Schmitz is inspired by her testers, a community she's now a part of. ey are from around the world, all shapes and sizes. After 18 months of work, she can tell the story Gorham Bank's Donnelly says fi nancial institutions have to hear. But Schmitz's ending is about more than profi ts. "I really hope it would change expec- tations about what beauty is," she says. "Change people's perceptions of body shapes and what is beautiful." M M, Mainebiz staff writer, can be reached at @ . [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people [With crowdfunding] all these people are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. are rooting for you. — Erica Schmitz Mybodymodel You work hard and are dedicated to your business. Shouldn't your Banker share those business. Shouldn't your Banker share those values? We share your community, your state, values? We share your community, your state, and your characteristics. Like you, we are dedicated. Like you, we work hard. Like you, dedicated. Like you, we work hard. Like you, we are Mainers. So why not work with a banking we are Mainers. So why not work with a banking team that works as hard as you do. Contact us today! Community Bankers. at ' s who we are. Local bankers that work as hard as you do. BankNH.com 1.800.832.0912 Member FDIC Your BNH Maine Business Banking Team (L to R): Britany Hustus, Jeremy Deering, David Eldridge, Christopher Logan, Chuck Schwab, and Travis Frautten

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