In the wake of the successful SIFF campaign to reopen the Egyptian Theatre in what may have been the biggest crowd-sourced financing drive ever for a Capitol Hill project, 15th Ave E’s Nuflours gluten free bakery is also turning to the crowd for a much smaller loan.
We’re seeking community support in a form of loans which will be paid back based on revenue from our business. Your loan, in the form of a Square will supply the financial support needed for the construction and equipment for opening the retail portion of our store. Here is a link to more information about Community Sourced Capital and how you can help. Our campaign page is http://www.communitysourcedcapital.com/nuflours/
The community loan process is done in $50 chunks — you put up $50 to help Nuflours finance its buildout and you get back $50 from the bakery’s revenue sometime over the next 18 to 36 months, according to the site’s documentation.
“Construction begins August 13th! Our goal is to reach $30,000 by August 28th, which would ensure an opening date in late September (just in time for the busy holiday season),” co-owner Amanda Bedell tells us.
You can bet other businesses in the community will be watching to see how the alternative financing strategy plays out.
CHS wrote here about the Nuflours plan to move to a fixed-place location and take over the old retail space on 15th Ave E that has served as a neighborhood bakery for 85 years. While the space’s kitchen and ovens are now being put to use crafting Nuflours goodies, the team has been holding Friday sidewalk pop-ups this summer until the old bakery’s front is upgraded with a new counter and cafe area.
Jessy and Jack
For another example of a Capitol Hill project getting a boost from the crowdfunding economy, check out Courtney Hartman’s Jessy and Jack line of kids clothes — one of the top campaigns on Kickstarter right now. Ending Wednesday, Hartman’s campaign had more than 60 backers heading into the final days.
Backers of the campaign get bibs and/or t-shirts in return for their financial contributions, and I would love to give a bonus bib or a bonus set of 3 limited edition greeting cards to any Capitol Hill parent who pledges on Kickstarter and messages me via Kickstarter that they saw the campaign on CHS. That will bring the reward packages to a value higher than the contribution levels, so basically my neighbors get to pre-order stuff at a discount and be the first ones to get our products.
“I’m a full-time working mom of a baby and toddler who calls Capitol Hill home (I’m over by the Bertschi school on 10th Ave E), and I currently have the most popular children’s wear campaign on Kickstarter,” she told us earlier this month. “My toddler boy’s clothes are covered in cars, trucks, and dinosaurs, and my baby girl gets to choose from ladybugs, princesses and hearts. I thought they deserved more so I decided to launch a baby and toddler clothing company.”
If you have a Capitol Hill-focused, crowdfunded campaign underway, let us know.