31  Oct

Rebuilding from Hurricane Sandy: Free Smallknot Services

[Updated: 11/13/12]

As we learn more about the damage from Hurricane Sandy across our own city of New York and the East Coast, we are saddened by the devastation on homes and livelihoods across the region.  At Smallknot, we are dedicated to helping small businesses grow through community finance — support from the neighborhoods where they are integral building blocks — and we would like to lend a hand any way we can. 

If your small business has suffered damage or losses related to Hurricane Sandy, we would like to help you get the funds you need to repair, rebuild and get back on your feet.  For affected small businesses, we are offering the use of our community crowdfunding platform and advising services free of charge.  To be eligible, you must 1) be in a storm-affected area and 2) use funds raised to undertake repairs or maintenance related to storm-related damage.  Eligible campaigns must be submitted by November 30, 2012.  

If you or any small business owner you know has been affected by the storm, please send an email to rebuild@smallknot.com.  

What is Smallknot? 
Smallknot is a community crowdfunding platform for small businesses.  Independent businesses can run campaigns to raise funds that are repaid to supporters in kind — at a premium — in the form of goods, services and experiences.  To learn more, please see our Frequently Asked Questions

What businesses are eligible to use Smallknot for this offer?
To be eligible, small businesses must 1) be in a storm-affected area, 2) commit to use funds raised to undertake repairs or maintenance related to storm-related damage and 3) submit a request or inquiry by November 15, 2012.  Inquiries and requests can be sent to rebuild@smallknot.com.

Do you provide any services in addition to use of your crowdfunding platform? 
Yes.  In addition to free use of our crowdfunding platform, we also offer one-on-one consultation to help you build an effective campaign and conduct outreach. 

Are there are any fees for using the platform?  
Although we are waiving our own fees for affected businesses, a fee of approximately 3% will be levied by our credit card processor.  We are currently in discussions to have this fee waived and hope to have these fees reduced or waived as well. 

When and how will I receive the funds? 
Funds will be deposited directly to your business bank account within 5-7 days of the successful completion of your campaign.  Normally, Smallknot campaigns last between 30-45 days but given the circumstances, campaigns can be as short as 7 days.  

Do businesses need to provide anything in return for the funds received? 
No.  Although typically Smallknot campaigns require participating businesses to offer premium products, services or experiences in exchange for funds, under these urgent circumstances no returns to supporters are necessary.  If businesses would prefer to offer returns, we are able to help you put those together.  

Are campaigns raising funds from Hurricane Sandy “All-or-Nothing?’

No.  Given that many of these businesses aren’t building specific limited projects, but instead need additional funds to repair and rebuild, campaigns with the “Rebuild from Hurricane Sandy” will not require businesses reach their requested goal in order to receive funds.  

I’m not a business owner, but I want to get involved and help a business.  Can I run a campaign for a business?

Yes.  Although the business owner must give their consent to the campaign, supporters are encouraged to run campaigns for affected businesses in their area.  In these situations, funds will be deposited directly to the business.