Fast Company has a profile of Smallknot, a website designed to promote local angel investing:
Think of it as neighborhood-based seed funding. On Smallknot, local businesses can exchange goods and services for capital investments from their fans. Let’s say your local bike shop wants to expand, or your favorite pizza shop wants to install an authentic wood-burning oven. “For a lot of local businesses, even very successful ones, projects like these get put on hold or never happen because of a lack of access to capital,” Lee explains. “Banks don’t lend to the smallest businesses in your neighborhood, and credit cards are costly and expensive.” But on Smallknot, 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.
The full story is here.