How do I withdraw funds during my Small OPO?
There are two cases in which a company can withdraw capital and request a disbursement of the funds in escrow:
- The company has exceeded its minimum funding goal in "cleared" funds and the campaign has reached its end date.
- The company has elected ahead of time to permit multiple closes and can withdraw capital prior to the campaign reaching the end date, so long as the company has exceeded its minimum funding goal. Also, the campaign must be live for at least 21 days prior to disbursement. This means the company can withdraw several times prior to the end date being reached.
How to Request a Disbursement
- Login to your company StartEngine Account.
- Click the name name in the top right corner then select "Campaign Progress" to request a disbursement.
- Select "Disbursements" tab and if you have sufficient funds you will be able to click the "Disburse Funds" button.
- Once you click "Disburse Funds", it will send a message to the StartEngine Account Services team to approve your disbursement. Once approved an automatic update will be posted on your campaign page, notifying your investors of your disbursement.
Note: Once the disbursement is accepted by StartEngine, a notice will automatically be posted as an update on your campaign page with the required language. You are welcome to post a separate update with more colorful language, but do not post an update about your disbursement until it has been accepted by the StartEngine team.
- One week from the request was made, StartEngine will initiate the disbursement of the total funds disbursable at that time
- Funds will arrive in the account entered in roughly 24-72 business hours