Is Crowdfunding Free Money?
By: Taqdees & Chiara
Published On: December 04, 2020
Crowdfunding is a fast-growing phenomenon in which online platforms are used to raise money. It is an effective alternative option for generating funds that are required for costly medical treatments. But can the funds raised be called free money?
Indeed, there is no payback policy when it comes to crowdfunding but that is not enough to call it a way to raise free money.
Medical crowdfunding is used to raise money for people who can’t afford their medical treatments. Many people who opt for crowdfunding for their medical treatment have exhausted their funds in the same or are unable to afford the treatment. Medical crowdfunding makes funds available for everyone who needs it.
ImpactGuru is India’s leading Medical Crowdfunding Platform that has managed to save the lives of people suffering from cancer, in need of transplants, surgeries, with ImactGuru’s donor’s generosity.
Many people choose to crowdfund because their medical needs are not met by the healthcare system or insurance. Crowdfunding not only addresses their immediate needs for medical funds but also unmasks the loopholes in the healthcare system. It raises awareness which can help people get the financial assistance they need, without having to bear the burden of paying interest or even paying back.
Read more frequently asked questions about crowdfunding.
Money to save a soul
There is no doubt that treatment for life-threatening diseases can be incredibly expensive. Crowdfunding helps pay those expensive medical bills. Thus, calling medical crowdfunding free money would be ethically wrong.
If you want to raise money for your mother’s medical treatment but are low on funds, your best option to get your mother out of her illness would be crowdfunding. Would you still call it free money?
There is a certain amount of respect that comes with these funds because the intent is to save someone’s life, to give them a better future, and more important to make a difference.
Learn more about how it works.
The generosity of the donors
The funds raised from medical crowdfunding is not free money. Rather it’s the collective funds of individuals and their willingness to fund a cause. At ImpactGuru, it’s the generosity of our donor’s which has managed so many successful medical treatments. This sharing from donors comes either from the fact that they truly care for your cause, have probably experienced the same, or are familiar with the same situation and therefore understand what you are going through.
Crowdfunding cannot be termed as free money due to the amount of respect that comes with it. It is more than just raising money.
Read about 4 Medical Cases Crowdfunding Has Helped.