Whether you draft a PPM or have an attorney do so, PPMs are an integral part of the process of raising capital (in the numbers you are seeking) and essential to ensuring that you do not need to register with the Securities and Exchange Commission. Generally, any time you are offering an investment opportunity, you are offering a "security." All securities must be registered with the SEC unless you can show that you fall under one of the exemptions to registration. Selling unregistered securities can land you in deep trouble with the SEC. In addition, given the dollars you are seeking, you may have a hard time finding the right investors unless you have disclosure documents in a PPM form to provide to them. PPMs are also a vital part of your defense against a lawsuit for fraud. Do not mess with this area. If you don't have the funds to get an attorney, find them. Borrow from friends or family to get the right attorney on board. Rack up the credit cards. Make the repayment of this loan part of your capital-raising process. Drafting it yourself and having an attorney review it may or may not be the best way to go. Ask the attorney you hire whether that will really be a cost-saving measure. It may not be.