How Mr. Friedli managed to get the urgently needed financial injection for his professional goals thanks to crowdlending, he now reveals to other entrepreneurs.
My wife and I run a private family home that operates as an association. The home is located in the Canton of Bern and has an operating license. Our task is to care for three adult residents.
We take in people with social and emotional difficulties into our small residential home. These people would actually have ended up in psychiatry or fallen through the cracks because a conventional residential home might not have been an option for them.
Our Challenge
Because we are private entrepreneurs, we unfortunately often fight with the cantons and authorities for every penny. All our pension money is invested in this life dream. Since our assisted living is classified as a residential stay, the authorities strictly dictate how to renovate a house.
The problem was that banks naturally demand high collateral. That means whoever wants to take out CHF 100,000 must have CHF 100,000. I have been working with a bank for over 10 years and in my experience, the bank leaves you in the rain as soon as it gets difficult.
The Solution: Crowdlending
I then searched for a long time for ways to get a loan without having to involve a bank. After some research, I discovered crowdlending and was immediately taken with the idea.
When I got to know Cashare, the whole appearance and conditions seemed very professional and promising. From the first inquiry to the payout, the process took 2-3 months.
Ultimately, the Cashare loan enabled us to finance a modern bathroom for our home residents. It is a very real support that you experience at Cashare. Much more personal and more than just a business.
We recommend Cashare to everyone looking for a serious and reliable crowdlending platform.
*Michel Friedli, Verein Sonnenhof, October 2020*
