Mr. Friedli now reveals to other entrepreneurs how he managed to obtain the urgently needed financial boost for his professional goals thanks to crowdlending.
My wife and I run a private, family-style care home, which is operated 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. For this purpose, the municipality of St. Dinger in the Canton of Bern has granted us a residence permit.
We bring people with social and emotional difficulties into our small residential home. These individuals would otherwise have ended up in a psychiatric hospital or fallen through the cracks because a conventional residential home might not have been an option. Concrete daily routines are crucial for our residents: from waking up to going to bed, they have individualized activities available 365 days a year.
We've had all sorts of different types of support services in our residence. Together, we face many challenges, such as reintegrating people or caring for those who have run away.
My wife and I have been passionately working independently for 10 years, providing these people with stability and a secure structure. Because we are private entrepreneurs, we unfortunately often have to fight with the cantons and authorities for every penny. And since we have experienced financial difficulties at times, we had to look for a loan.
All our pension money is tied up in this dream home. For example, renovations to the house have to be financed and carried out independently using our daily allowances. Because our assisted living arrangement is classified as a nursing home, the authorities dictate to us exactly how the house must be renovated.
For example, we have to make everything wheelchair accessible, even though none of our residents use wheelchairs. Cantonal regulations impose restrictions in many areas. Therefore, we had to decide to take out a loan to ensure the comfort of our residents and to comply with cantonal regulations.
The problem was that banks naturally demand substantial collateral. This means that anyone wanting to borrow CHF 100,000 had to have CHF 100,000 available. The hurdles at banks are very high and almost impossible for smaller companies to overcome.
I've been working with a bank for over 10 years, and in my experience, they abandon you as soon as things get difficult, even if you've been a customer for more than 10 years. Unfortunately, the level of trust with this bank remains constant. Loyalty bonuses are rare.
I then spent a long time searching 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. However, it wasn't easy to find a good provider, as there are many dubious offers on the market.
When I first encountered Cashare, the whole presentation and the conditions seemed very professional and promising.
From the initial inquiry to the payout, the process took 2-3 months. We appreciated that Cashare – as reputable as a bank – asked for a considerable amount of information. This gave us a trustworthy impression.
Ultimately, the Cashare loan enabled us to finance a modern bathroom for our residents. I also invested in renovations to the apartment, for example, by having certain partitions installed. The support you experience with Cashare is very real. Much more personal and more than just a business.
We always focus on very specific issues and are grateful for any support we receive – for a good cause. We recommend Cashare to anyone looking for a reputable and reliable crowdlending platform. If you have an exciting and promising project you want to realize and can't easily access a bank loan, Cashare is the perfect place for you.
Michel Friedli, Sonnenhof Association, October 2020
