Where to launch a coronavirus crowdfunding campaign

As with a regular crowdfunding campaign, it’s important to do your research and find a platform that best suits your business needs and goals. These popular crowdfunding sites are a good place to start:

• GoFundMe. Founded in 2010, GoFundMe is a popular crowdfunding platform used to raise money for emergencies and charitable causes. GoFundMe can be used by both individuals and businesses, but the most successful campaigns tend to center around service-based causes. Unlike other popular crowdfunding platforms, your campaign does not have to meet a deadline or goal requirement, meaning you keep everything you raise minus a 2.9% processing fee and 30 cents for every donation.
• Kickstarter. Kickstarter is a rewards-based crowdfunding platform designed to “help bring creative projects to life.” To launch a campaign, you set a fundraising goal, deadline and different pledge levels for backers to choose from. Each pledge level provides something in return, such as a small gift, early access to a product, a personal experience and so on. Kickstarter is an all-or-nothing platform. A campaign that doesn’t reach the fundraising goal within the timeline will go unfunded. For successful campaigns, Kickstarter charges 5% of the total funds raised, plus payment processing fees that range between 3% and 5%.
• Indiegogo. Like Kickstarter, Indiegogo campaigns are usually centered around creative works, charities or start-up businesses. Unlike Kickstarter, a campaign can be fixed or flexible. A fixed campaign is all or nothing, whereas a flexible campaign allows you to keep all the funds whether or not you meet your goal. If you don’t meet your goal on a fixed campaign, you will not be charged any fees. For flexible funds, you will be charged a 5% fee plus a 3% processing fee, plus 30 cents per transaction.
• Kiva. Unlike other crowdfunding platforms, Kiva is a non-profit organization that connects entrepreneurs who need a loan with people who want to loan money. Kiva is ideal for individuals who are considered “unbankable” by traditional financial institutions because they have no collateral, no credit history or are otherwise seen as a “risky” investment.