You might not know that typically only 3% of Americans can invest in startups. DC and 18 other states are changing that by allowing all residents to invest in new businesses and independent entrepreneurs. Here in the District, this model of fundraising, called “equity-based crowdfunding,” has been law since October 2014. Equity-based crowdfunding makes investing in startups accessible to all District residents for as little as hundreds of dollars.

Bluebird Bakery, an artisanal bakery currently hosting a pop-up at Penn Quarter’s Prequel, is only the second company to take advantage of this law. Since June, owners Tom Wellings and Camila Arango have raised $150,000 (half of the capital they need to open) from 77 District residents. The business is allowed to accept up to 500 investors before the end of the campaign. Currently, the minimum investment is $500 per person.

Their fundraising website, BluebirdDC.com, lays out their vision for the bakery—a return to Old World-style European boulangaries and patisseries—as well as a detailed breakdown of financial projections, use of initial capital, and payout schedule. They anticipate paying back investors within 2 years, offering each of their investors what is called a preferred return on their investment. (For those new to investing, this means that the percentage of profits distributed each year will be higher than the percentage of equity you own in the business, incentivizing Wellings and Arango to pay back investors quickly in order to receive any distributable profit themselves.)

Investors in Bluebird have unprecedented access to the business owners and culinary talent behind the investment opportunity since Wellings and Arango currently run a bakery pop-up Monday to Saturday in Penn Quarter. Many of their initial investors were regulars of the bakery pop-up and others are seasoned hospitality industry professionals.

Good news to investors already: Bluebird has already bolstered its core business while fundraising. Business owners at renowned brands Dolcezza and Peregrine secured wholesale contracts with the startup bakery for products that reach across the District and even out into Virginia. Wellings and Arango say they plan to expand the wholesale business by taking on brands they respect, with the focus on exceptional quality of product that they will also bring to their storefront later this year. Bluebird anticipates wholesale business could provide $15,000-$30,000 per week in revenue, increasing their likelihood of profitability and sustained success.

For those interested in learning more about startup investing and Bluebird, Wellings and Arango are hosting an open house and dessert receptions this month for those interested in investing. Bluebird will host the event at Prequel (918 F Street NW) on Wednesday, July 29. The Bluebird team will serve additional dessert items they intend to serve at Bluebird Bakery, provide more context about their vision for the bakery, and answer questions about their vision for the bakery. Tickets for the event cost $25 and are available at prequeldc.com.

To learn more about Bluebird’s groundbreaking crowdfunding campaign, visit BluebirdDC.com.

This post is brought to you by Bluebird Bakery.