In Crowdfunding, New Source of Aid After Catastrophe

Monday, November 11, 2013

WYL COLLINS and his wife, Jessie, managed to salvage only a few belongings after Colorado’s devastating floods in September destroyed their home and their T-shirt printing equipment in Lyons, a small town about 15 miles north of Boulder.

A television mounted high on a living room wall escaped the rushing waters from the St. Vrain Creek. But most of their furniture and appliances were buried in piles of mud. The presses, which Mr. Collins used to run his thriving T-shirt screening business from the back of the rented house, were smashed to pieces.

“There is no going back for us,” said Mr. Collins, 44, now living with friends in nearby Longmont. “But we are restarting the business even though we are starting everything from zero.”

Source: New York Times (link opens in a new window)

Categories
Entrepreneurship
Tags
crowdfunding, financial innovation