In Crowdfunding, New Source of Aid After Catastrophe

 

 

Matthew Staver for The New York Times

Matthew Staver for The New York Times

By JENNIFER PRESTON, NYT , WYL COLLINS and his wife, Jessie, managed to salvage only a few belongings after Colorado’s devastating floods in September destroyed their home and their T-shirt printing equipment in Lyons, a small town about 15 miles north of Boulder.

A television mounted high on a living room wall escaped the rushing waters from the St. Vrain Creek. But most of their furniture and appliances were buried in piles of mud. The presses, which Mr. Collins used to run his thriving T-shirt screening business from the back of the rented house, were smashed to pieces.

“There is no going back for us,” said Mr. Collins, 44, now living with friends in nearby Longmont. “But we are restarting the business even though we are starting everything from zero.”

With no flood insurance, and limited access to credit and small business loans, Mr. Collins turned to online charitable giving — a crowdfunding platform called GoFundMe — to help raise money to regain his footing.

Just two months since the floods, GoFundMe has helped him generate more than $8,000 in donations from 70 people. Combined with money from the Federal Emergency Management Agency for flood damage, Mr. Collins said he had enough to rent space in Longmont with a partner and order a new press and supplies.

“A lot of them are family and friends,” Mr. Collins said of the donors. “Most of the donations, probably half of them, are from clients who want me to go, go, go. About a quarter of them are from complete strangers.”

Kickstarter, the world’s largest crowdfunding platform, began in 2009 as a way for people to contribute, mostly for arts and other creative projects. Since then, more online platforms, including Indiegogo, have popped up, allowing people to raise money for a wider array of projects, as varied as school field trips and global clean water initiatives. Nonprofit organizations like the American Red Cross have used Crowdrise and other online charitable giving platforms to raise funds.

HEADLINE NEWS

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

VentureBeatAtaribox preorders and crowdfunding campaign open on December 14VentureBeatAtari will start taking preorders for its Ataribox game console starting December 14. The New York company will also start its crowdfunding campaign on Indiegogo. In an email blast, Atari said, “We a [...]

CurbedHistoric French chateau now has 13000 owners from crowdfundingCurbedThe Chateau de la Mothe-Chandeniers has had many owners since its construction in the 13th century. Now more so than ever. Over 13,000 strangers have recently banded together to save the fairytale home—which fea [...]

Crowdfunding For French CastlesNPRYou too can own a French chateau, in part, anyway. Romain Delaume, CEO of Dartagnans, tells NPR's Scott Simon about a crowdfunding effort underway to preserve La Mothe-Chandeniers. SCOTT SIMON, HOST: What if I told you that for about $60, you cou [...]

Financial TimesCrowdfunding a mission to save capitalism from itselfFinancial TimesJeff Lynn is on a mission to save capitalism from itself at a time when millions feel locked out, and unable to foresee themselves better off than their parents. His answer: to democratise capital. That [...]

Comics BeatCrowdfunding Watch: Women to the RescueComics BeatAlas, another Monday begins. We're all here at our computers, staring at the screen until our eyeballs turn into raisins. I'll try to keep this week's crowdfunding round-up short and sweet. This week we'r [...]

WRAL Tech WireNew crowdfunding platform launches in North Carolina: LocalstakeNCWRAL Tech WireEasley points out that LocalstakeNC “is the first investment crowdfunding platform exclusively serving North Carolina. Startups and small businesses ranging from technology startups to retail [...]

Crowdfunding Campaign Underway To Establish Freediving Lanzarote DestinationDeeperBlue.comFreediving Champion Marianna Krupnitskaya has set up a crowdfunding page to help her set up an amazing freediving destination in the Canary Islands. The Freediving Lanzarote project will ultimate [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |