PULP, the independent retail greeting card and gift shop at 1803 14
th Street NW, is asking customers to show their support for the store by investing in it—much as the store has tried to show its support for the local community. Store owner, Tony Boykins, who wants to make much-needed improvements in the store, is seeking $15,000 to cover the capital costs on the D.C.-based crowdfunding platform,
Clovest.
Karan Jain, Clovest CEO, recognized that it was hard for small businesses to obtain loans of less than $100,000, and decided to make it easier by raising funds from communities in the form of zero interest loans. With Clovest, not only do funders have their contributions repaid by businesses on a quarterly basis, but businesses undertake growth and improvement projects with the explicit support of their communities.
PULP is hoping that members of the local community will become investors in their capital improvement project. Investments can range from as little as $25.00 to as much as $5,000. The money invested will be repaid over the next three years. The Clovest website offers a full explanation of the
PULP project.
Planned improvements include:
- Paint the store
- Finish and seal the store’s concrete floors
- Install new fixtures and improve displays for products throughout the store
- Improve storage systems
- Replace front windows and renovate front and rear entrances
- Improve the store’s environmental systems
- Update the store’s web presence
Boykins says that PULP is planning to host a number of creative events for 14th Street after its renovations are completed. Over the years, PULP has opened its doors to the 14th Street community for art exhibitions, art workshops, and neighborhood events. In fact, according to PULP General Manager Beverly Jones, the store is currently hosting an “Artist Pop-Up Shop
” series that was created to help artists in the community gain greater exposure.
The capital campaign ends September 1, 2013.