Seed Out is a registered not for profit crowdfunding platform which is working to end poverty by establishing micro-entrepreneurs through interest free microfinancing. We aim to reduce the suffering of underprivileged people by raising them as micro-entrepreneurs and connecting them to generous donors with an interest-free loan system.
Online crowdfunding enables an individual to pool money into a fundraising project through a website. Typically, small amounts of money are raised from a large number of people via the internet and online payment methods.
When was Seed Out established?
Started by a young entrepreneur with a dedication to help his country, Seed Out was established in 2013. Along with a team that shared the same drive and purpose for helping the needy, Seed Out has become a renowned crowdfunding platform.
What are the outcomes of successful fundraising for a project?
With the right funds and means to truly turn their businesses around (via Seed Out), there are several beneficial outcomes that change each micro-entrepreneur’s life. There is an increase in the household income, a reduction in the need for child labor (as more are sent to school), reduction in contagious diseases (we ensure a hygienic environment is maintained) and of course, empowerment of minorities (women, disabled, transgenders etc.).
How does Seed Out cover costs but remain interest-free?
Generous donors, passionate fundraisers, and partner organizations help fund our operating costs. We accept donations to fundraising projects directly but also to the organization itself. Any donations made towards covering our overheads help us out a lot.
Why do donors choose Seed Out?
Our person-to-person platform has complete transparency throughout the Seed Out loan life cycle. Connections between borrowers and donors are made cost-effectively and without intermediary interference. So, you get to track the complete process. Secondly, instead of helping just by giving cash, we set up proper and permanent source of income for the borrowers. Finally, the recovered installments by the beneficiaries are collected in Seed Out’s revolving fund and are completely (100%) reinvested to raise more entrepreneurs.
Do I need to fund the entire loan?
No, As there are a lot of donors on our website and we hope that every donor can contribute as much as they want to. Our loan payments are set in increments of $25 or more. After the 30 day fundraising period if the loan has not been donated Seed Out covers the unfunded amount from its revolving fund.
For the most part, you will be repaid but we cannot always guarantee certainty on the success of a project. Seed Out does not return payments in the form of cash back into your hands. Instead, when a donor is repaid from a borrower, the recovered installments are collected in the revolving fund and are 100 % revolved to raise more entrepreneurs.
How does Seed Out’s auto-donation system works?
If you do not login into your Seed Out account within 3 days after your repayment is received, our auto-donation system automatically donate this amount to another borrower.
Who can receive a Seed Out loan?
Seed Out undertakes crowdfunding further borrowers in all kind of businesses. They can be shopkeepers, mechanics, farmers, or in a completely different field of work. We generally focus on people who have been financially excluded; unable to access fair or affordable source of credit.
How does the money for the loan reach each borrower?
We try to keep our funding operations cashless. Instead of giving cash directly to the beneficiary, Seed Out helps them start their entrepreneurial venture and build a sustainable source of income.