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Crowdfunding Tip of the Week: MoolaHoop, the Crowdfunding Platform That Campaigns for Women
editorial

Crowdfunding Tip of the Week: MoolaHoop, the Crowdfunding Platform That Campaigns for Women

Editor’s Note: Thinking about starting a crowdfunding campaign but don’t know where to begin? Check out the tip below from Rose Spinelli, a crowdfunding campaign consultant who runs The Crowdfundamentals. This is the latest in a series of tips, suggestions, and best practices Spinelli is writing exclusively for Crowdsourcing.org; you can find previous tips here. If you have any suggestions of your own, feel free to post them in the comments below!

If you're a woman and you're starting or growing a business, it’s not surprising that one of the biggest challenges you're likely to face is getting your hands on capital.

According the National Association of Women Business Owners (NAWBO), the types of funding women business owners use are personal savings, reinvested business earnings, lines of credit, loans, equity financing, and venture capital – in that order.

“Women-owned and -led businesses have been traditionally underrepresented in deal sourcing for venture and private equity investment... deal sourcing often happens through the networks of private equity investors, typically a homogeneous group,” NAWBO says. “When women entrepreneurs make headway, they are considered outliers, often without peer groups on whom to rely for coaching and support.”

MoolaHoop, a new women-focused crowdfunding platform, aims to change all that. Launching Wednesday, July 24, MoolaHoop was founded by Brenda Bazan and Nancy Haye; their plan is to transform the landscape of funding for women-owned businesses through crowdfunding.

In spite of the sobering facts above, more women are starting and running plenty of businesses, are successful at growing them, and are innovators. So for MoolaHoop, it’s a matter of creating a bridge between women and money.

“In building our platform,” says Bazan, “instead of trying to get a voice in the marketplace – among Kickstarter, Indiegogo, Rockethub – we wanted to build relationships with organizations that are already working with women, those who are already helping women build entrepreneurial skills, that already have programs that work with women.”

So lean in, ladies. Or should that be on MoolaHoop.

For a Q&A with MoolaHoop, check out The Crowdfundamentals.

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