Fundopolis is the most recent crowdfunding platform to provide specific initiatives for issuers during the challenges engendered by the COVID-19 pandemic. As has been widely reported, millions of small businesses are seeing revenues drop as people comply with COVID-19 quarantines and social distancing practices.
Fundopolis is a FINRA regulated funding portal offering securities under the Reg CF exemption. Issuers may raise up to $1.07 million from both accredited and non-accredited investors.
According to Fundopolis, the company is cutting fees affiliated with issuers using the platform to assist firms in need of capital.
Small business owners may expect the following:
- A 50 percent reduction in Fundopolis fees;
- Zero upfront fees, including a 50 percent reduction in escrow setup fees which will be payable at the close of the raise rather than the beginning; and
- Businesses have the ability to create a debt offering between $10,000 – $50,000 that is both interest-free and payment-free for the first year.
“If there ever was a moment that we, as a community, need to step up to make sure that our shared future looks bright, this is the time,” said Jan Steenbrugge, founder and president of Fundopolis. “We at Fundopolis are doing as much as we can, but we are just one company. The crowd, however, is a force to be reckoned with. Let’s unleash all the good it can bring!”