Founded by two Wall Street refugees frustrated with the inability, or disinterest, of the global financial system to invest in small businesses, SmallKnot facilitates neighborhood-based seed funding.
Campbell-Dollaghan explains the service thus: "Let's say your local bike shop wants to expand, or your favorite pizza shop wants to install an authentic wood-burning oven...business owners can launch a campaign to incentivize their own customers to invest, in return for special deals and perks--not unlike a more targeted, localized version of Kickstarter."
"Since launching in October, Smallknot has helped a fairly diverse group of small businesses raise funding: $2,500 for a new cake shop, for example, and $10,000 to help beloved Williamsburg brunch spot, Egg, replace its tables and chairs. Today, a small progressive radio show in South Carolina is hoping to rebuild its website after a hacker knocked it offline ($100 will make you co-host for a show)."
