Local Lift is a “main street” focused crowdfunding platform that is operating in Austin, New Orleans and just recently San Francisco. They are taking the concept of crowdfunding down to the local level by powering funding for small businesses that need it the most in targeted communities. As they say – call them “crazy” but they believe more attention needs to be focused on small business in America. They site all too frequently ignored facts that small business is the engine of growth for our national economy. We concur with their assessment. So it was nice to see a brief video from an Austin TV station sharing the Local Lift mandate.
In Austin and New Orleans Local Lift has helped 22 businesses raise over $120,000. Most of the backers come from friends, neighbors and those that believe in the value of small business. Local Lift provides a vehicle where local businesses may avoid the high cost of getting a small business loan (if they aren’t turned away first). It will be interesting to see how Local Lift adapts once Title III, retail crowdfunding rules are in place later this year.
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