A soft cap is the minimum needed for the project to proceed and a hard cap is the amount that they will accept no more than. For instance a soft cap could be 10 million and a hard cap 30 million meaning if the project does not attain 10 million it will not proceed and also if it reaches 30 million no more can be contributed.
Thank you for this wonderful information. I got the attention now of checking the soft cap and hard cap of a project. Based on experience is there an ideal amount of soft cap and hard cap?