Crowdfunding â€“ a new way for small companies to raise capital.
Online PR News – 25-January-2013 – Weirton, WV – We know all too well what happened to manufacturing in the USA â€“ companies moved their manufacturing off-shore to countries like China, India, Vietnam, Indonesia and other places where labor is cheap. This left tens of thousands of Americans without meaningful work. It also left many companies to go under because their customers found that the products made off-shore didnâ€™t hold muster to the quality their customers came to expect when made in the USA.
So the story of Knapp Shoe Company goes: Iron Age Corporation, a protective footwear company for over 190 years, purchased the Knapp Shoe Company and moved their manufacturing to China. In 2007 they filed for bankruptcy and laid off more than 500 employees in the U.S.
With encouragement from a strong and loyal base of customers, some having been wearing Knapp Shoes for their entire working career of 40+ years; Mr. Avram Grossman saved the product-line from going to the scrap heap by purchasing the tooling and patterns used to make the products. In 2010 he started manufacturing footwear as KB Footwear Company, a name which commemorates brothers Elwin and Clarence Knapp who founded the Knapp Shoe Company in 1921.
Avram Grossman stated - â€śmanufacturing in the USA helps to strengthen the American economy. We are putting Americans back to work who are earning an income once again and can afford to spend their earnings on other American made products. And, we are making a top-quality product worn by Americans who are going back to work.â€ť
To meet the growing demand for their footwear, KB Footwear has decided to turn to crowd source funding as a means to raise working capital. Crowdfunding is a proven and effective alternative to traditional angel investors, equity-based funding, and SBA and small business bank loans. Kickstarter.com is the biggest website for funding creative projects, and KB Footwear can be found http://www.kickstarter.com/projects/152453262/kb-footwear-work-and-safety-boots-and-shoes-made-i
Please visit KBFootwear.com or Kickstarter.com and see the fundraising campaign.