New Crowdfunder For Black-Owned Startups
Nathan Bennett Fleming and his team want to address a problem: Not enough funding for minority-owned small businesses. BlackStartup will be set up like most crowdfunding sites: businesses post their plan and how much they need to raise and the public pitches in.The startup, which he launched with five classmates/frat brothers from Morehouse College, will only get the funding if the goal is reached. Nathan, a DC-based lawyer and the shadow US Representative for the District, tells us he's already seen over 30 applications from startups and he imagines it'll grow to hundreds in the first year. He hopes to balance out the stat that Caucasians are two to three times ahead of African Americans at owning sustainable businesses even though African Americans start new businesses at higher rates.