Worldwide Finance Awards 2020

Acquisition International - 2020 Worldwide Finance Awards 17 nline crowdfunding exploded onto the scene in 2008 following the great financial crash, and emerged as an alternative means for businesses or individuals to raise capital. Today, the worldwide crowdfunding market tops $304 billion, so it is here to stay. Established in 2012, TLC contracts with community development organizations to bring its platform into local communities. Eight years on from its establishment, and the platform is now in use in the six states of California, Kentucky, Montana, New Hampshire, Vermont, and Wyoming, and has successfully raised upwards of $639,000 in crowdfunding for local entrepreneurs and small businesses. TLC stands out in the crowdfunding industry as a platform that takes the art of crowdfunding to the local level, and energizes each rural community around its own crowdfunding platform. The firm’s capacity to do this is based on its core competencies of localized crowdfunding techniques, rural economic development, community building, adult education, quality economic practices, and social capital. The innovation for TLC was developed by co- founders Diane Sontum and Kim Vincent, who envisioned a way that crowdfunding technology could be used to ignite the economies of rural communities with a replicable and scalable turnkey solution. In essence, the platform that TLC has designed provides the path to capital by giving businesses and entrepreneurs direct access to potential supporters in their community. By doing this, the TLC model provides an innovative, locally-focused crowdfunding tool that can strengthen local networks and relationships between businesses, customers, non-profits, and rural residents. Where TLC truly excels however, is in the impact beyond dollars and cents raised by the crowdfunding itself. TLC also helps communities fortify the relationships and networks among people in society - thus increasing social capital. Social capital is a key ingredient for economic recovery and is now more critical than ever as the US struggles to recover from the economic devastation caused by the COVID-19 pandemic. Some of these dollars raised will make the difference between closure and survival for businesses in local communities. TLC’s education will help businesses grow and become stronger, they will learn how to use their networks, build confidence in their ability to raise capital, test their post-COVID-19 innovations, and ultimately support other businesses in their own communities. Since 2012 when TLC was founded, it has helped many rural communities create robust connections and economic opportunities. Rural economic and community developers understand that communication, engagement, Located in Laramie, Wyoming, The Local Crowd is a rewards-based crowdfunding platform that specializes in funding for local small businesses, especially those working rural areas. Supporting local business is admirable at the best of times, but TLC has taken it to a whole other level with the exceptionality of its crowdfunding platform. We take a look at what makes it so special, and so worthy of achievement in this years’ Worldwide Finance Awards from Acquisition International Magazine. Best Local SME Rewards- Based Crowdfunding Platform (Western USA): TLC O and collaboration are essential to successful and sustainable communities. These attributes lead to more effective decision-making, development of beneficial relationships, cooperation, enhanced creativity, and advanced trust amongst leaders and communities themselves. Developers want these things, and TLC offers them as a solution. TLC is committed to providing research-based best practices and methods for growing community financial and social capital through crowdfunding. TLC’s research activities have been supported by three SBIR research awards as well as assistance from the State of Wyoming’s economic development programs. Understanding that connection breeds community, and that in turn can pave the way for crowdfunding, TLC is all about building deeper connections between community members. Ultimately, TLC is in the business of strengthening networks and relationships among businesses, customers, contributors, and community residents, whilst giving rural communities the boost they need to rebuild, recover, and reinvent themselves for a positive and prosperous future. Company: The Local Crowd Contact: Diane Sontum Website: https://thelocalcrowd.com/