5 Common Myths About Crowdfunding

5 Common Myths About Crowdfunding

Crowdfunding is an innovative way to raise funds. The rise of crowdfunding in the early 2000s started global communities connecting people with the same vision and values.

What is crowdfunding?

Crowdfunding is a new way to fund different projects – medical assistance, disaster relief, community development, travel fund, school tuition, business capital, pet care, and so much more. It is a method of raising funds with the help of a large number of people. Online crowdfunding platforms made it easier than ever to raise money worldwide with its remote support feature.

But there are some common misconceptions about crowdfunding that may hold you back from taking the next step. In this article, we debunk five popular crowdfunding myths so you can clear your path and raise funds today.

Myth #1: Crowdfunding is only for big companies.

Many people think that crowdfunding is too complicated for small businesses. Thus, they opt to believe that crowdfunding is only for big organizations. In reality, crowdfunding is for startups or even ordinary individuals too! There are now hundreds of thousands of small businesses crowdfunding to raise capital. Small nonprofit organizations use crowdfunding to raise money for their cause.

Myth #2: Crowdfunding is exclusive to the rich.

Not true! Anyone can start a fundraising campaign on crowdfunding platforms like Airfunding. As long as you have a story to tell, funds to raise, valid documents, and a bank account, you can start crowdfunding anywhere, any time. Check out Ana from Mexico and see how she raised more than $13,000 for medical bills.

Myth #3: Crowdfunding is not safe.

The modern digital world has many threats nowadays. Your anti-virus software may no longer be able to cope with keeping your data safe from cyberattacks. In Airfunding, we need to keep our community protected against hackers. Multiple layers of security have been put in place within our platform so your donations get to you safely. You may read more about it from our Terms of Use and Privacy Policy.

Myth #4: Crowdfunding is expensive.

A lot of people say that they cannot afford to raise money. It is a myth! You can open a fundraising project in Airfunding for free! No cash out is needed so you don’t have to worry. An 8% platform fee will be deducted from your donations once your funds are processed for transfer.

Myth #5: I need to have a huge social media network when crowdfunding.

Truly, you don’t. Individuals like Eduardo can tap into a network of supporters through crowdfunding platforms. These could be supporters they cannot get on their own. Airfunding has more than 134,000 supporters worldwide. You can be assured that help will come to your door when you least expect it.

Get funded with Airfunding

Now that those myths are out of the way, get started with your fundraiser in Airfunding now. Airfunding is a donation-based crowdfunding platform. More than 639,000 have told their stories in Airfunding to connect with supporters worldwide.

You can join them too by signing up today!

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financial assistance Nigeria

What kinds of financial assistance are available in Nigeria

Food price inflation rose again at the start of this year’s second quarter in Nigeria. It, together with a depressed jobs market and devalued currency of naira to dollar, casts a huge cloud over the country’s economy. Both rich and poor are feeling the change in rising costs of living. And, many are looking for ways to get financial assistance in Nigeria.

Getting Financial Assistance in Nigeria

  • There are limited ways to personally make money online or offline in Nigeria. Much of the financial aid from private foundations goes to the government fund. The funds are then used for different social programs related to health, agriculture, financial services, women empowerment, and other programs for marginalized communities. A popular foundation that has long been supporting the Nigerian government is the Bill & Melinda Gates Foundation.

    But there’s one method that has become a trend for some of the country’s citizens. And that is through crowdfunding.

What is Crowdfunding?

Crowdfunding is an innovative way of raising funds from a large number of people. Many people around the world have used it to fund their dreams. Crowdfunding allows anyone to create a project on a website and ask others to donate money. The donation may also be in exchange for rewards.

Crowdfunding in Airfunding

Airfunding is a donation-based crowdfunding platform available in Nigeria and other select countries. It allows anyone to open a project and ask others to donate money towards its goal.  More than 634,000 have trusted Airfunding to help them fund their dreams through crowdfunding.

✓ Free registration. Looking into your situation, you may not have money to shell out for a paid giving platform. It’s a good thing registration in Airfunding is free!

✓ Easy to use. As the old saying goes, time is gold. Researching for financial assistance can take hours. That time could have been spent collecting donations instead. Airfunding provides tips every step of the way and has a user-friendly interface to kickstart your fundraiser.

✓ Hundreds of success stories. Starting an online fundraiser could be intimidating at the start. Read through stories from hundreds of individuals who achieved their dream through Airfunding. Here’s Humanity and Community Development Foundation’s story you can start with. It took them 2 months to raise the funds they need, but it was worth it! So can you!

✓ Shareable fundraiser. Social media has become a popular and easy way to do crowdfunding. On your Airfunding project page, you and your friends can share to any social media platform with a button. It is how Tunde Lawal did it for his fundraiser.  By sharing it with his network online, he raised $1,465 (₦ 608,517.05) in 6 months.

✓ Customer service. When things do not go based on plan and you need help, you can check out the Airfunding Support Portal. Still can’t find an answer? Submit a ticket any time.

Start an Airfunding project today!

If you are looking for a quick way to make some extra cash, start an Airfunding project today. It is one of the fastest-growing forms of crowdfunding available online. With Airfunding, you can raise money for any type of project – medical, disaster relief, education, business capital, or travel.

Visit Airfunding now!

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June 23, 2022 AirFunding Infomations No comments yet
financial assistance Malaysia

What kinds of financial assistance are available in Malaysia

Malaysia is an upper-middle-income country based on the World Bank Group report. It leaves a small number of households within or below the poverty line – less than 1% of the population. However, Malaysia is experiencing food and oil price hikes, ongoing pandemic situations, and labor force challenges. The poverty population may go higher over time.

Because of this, financial resources may be a concern not only for the poor but for every Malaysian citizen. So how do you get financial assistance in Malaysia when you need it?

Ways to get financial assistance in Malaysia

  • Personal donations from family and friends. The use of eWallet in Malaysia has boomed in 2019 with more than 53 platforms available in the country. It eases sending money to anyone using only a smartphone. It makes requesting financial help from family and friends easy, especially if you are far apart. But, this method is quite limited to your network and their financial capacity. It may, in turn, be not enough for your needs.
  • Malaysian Government Welfare Assistance. The government has made it easy for its citizens to request financial help through its online portal. You can apply for financial help for children, single parents, senior citizens, people with disabilities, medical assistance, and more. Getting financial assistance from the Malaysian government could be tedious. They need requirements and a long processing time. If you opted for this option, make sure you have enough lead time up to the time you get the money.
  • Private financial institutions. There are more than 50 financial institutions in the Malaysian banking sector. You can send them a loan application with your desired amount to receive. Most of these banks offer fast approval processing – but only if you provide the required documents and pass the credit score.
  • Private industry-related institutions. Depending on the purpose of your financial need, you can find a private institution related to it. For example, if you are looking for school tuition funds, you can find a university offering scholarship funds. If you are looking for medical financial assistance, you can find a hospital that has medical funds to support those in need. The process might be time-consuming because of the research needed. Also, to get a high probability of getting the financial help you need, applications must be done from one institution to another. Applying to just one might be risky and may be rejected.
  • Crowdfunding. Crowdfunding activities have popped up all over the globe at the start of the pandemic. Crowdfunding is the solicitation of money from a large number of people to raise funds. Online crowdfunding has already been proven by multiple platforms to be safe with security protocols in place. Creating an online fundraiser will also increase the potential of receiving an amount more than the actual amount you need.

Crowdfunding in Airfunding

Airfunding is a donation-based crowdfunding platform available in Malaysia and other select countries. More than 630,000 have trusted Airfunding to receive financial help around the world.

✓ Fast and free registration. Setting up an Airfunding project is simple. Determine your fund goal, write up your story, and pick the date when you want to receive your funds. In a few minutes, you’re on your way to receiving donations from all over the world.

✓ Financial assistance for anyone. The donations do not have to be yours. You can select another beneficiary to receive the funds. Airfunding provides a platform for a community to help each other out remotely. It is how Shabaz Munir helped a deceased friend’s family through Airfunding. In 12 days, their community raised $5,393 (RM 23,834.36) to support his wife and two-year-old son.

✓ Fundraise for anything. People come to Airfunding for all types of financial needs – medical, disaster, business, education, travel, and even for your pets. Surprised? Here’s a story of Syed and how she rescued a cat’s life through Airfunding.

Start an Airfunding project today!

Considering starting a crowdfunding campaign for your financial need? Start a project for yourself, a loved one, or a charity in Malaysia now.

Visit Airfunding now!

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financial assistance

What kinds of financial assistance are available in the Philippines

The Philippines has reached a 90% learning poverty among school-aged children in 2021 (World Bank Report). It means a massive percentage of future laborers cannot read and understand simple texts in the country. It also means that these incoming workers will not have the opportunity to earn high enough wages to support their families.

So if they will not be earning enough, what can they do to make ends meet? Let us go through them one by one.

Ways to get financial assistance in the Philippines

  • Having 2 to 3 jobs. Filipinos are still dependent on their employment wages to earn money. But most of them steer clear of poverty by working 2 to 3 jobs a day. So if you have enough time and energy, this could be a solution to your financial problems.
  • Government financial assistance programs. The Philippines government has many financial help programs available to its citizens. Different financial assistance programs are available related to business, medical concerns, disaster relief, education scholarships, housing loans, and more. Because of their many programs, the amount you can receive is not that high. Applications are also subject to many requirements and a high risk of being declined.
  • Bank loans. Cash loans from private financial institutions are available for Filipinos. You can apply for personal loans according to the amount you need. Like government loans, many requirements are needed. Also, background checks will be conducted to verify your eligibility for credit. If you have a good credit score and good standing with your bank provider, this could be a good option you can try.
  • Donations through crowdfunding. Crowdfunding increased popularity among Filipinos, especially at the start of the pandemic. Crowdfunding is the solicitation of money from a large number of people to raise funds. It is easy, fast, and effective when raising money for your financial needs. If you are comfortable reaching out to family, friends, or even strangers, crowdfunding is perfect for you.

Crowdfunding in Airfunding

Airfunding is a donation-based crowdfunding platform. It is open to select countries including the Philippines. More than 620,000 have trusted Airfunding to receive financial help around the world.

✓ Free registration. Anyone at any time can create an account for free. You can even open a fundraiser for other people like how Ma Rie did it. Her Airfunding project provided financial assistance to her coworker who had an untimely death. The funds raised amounting to $2,380 (₱125,759.20) were donated to the coworker’s wife and two kids.

✓ Setting up is easy. Tips are available along the way so you can construct a heartwarming story like Bernadette’s. Stories like these will surely attract supporters. The story of Bernadette’s aunt captured the hearts of many supporters. It was able to raise a total amount of $1,437 (₱75,931.08).

✓ Receive funds worldwide anytime. With an open-to-the-public project, anyone can donate to your fundraising campaign any time, anywhere. You may even be surprised to raise funds more than your set goal like what happened to Jerson! Jerson received donations within one month through his Airfunding project amounting to $3,235 (₱170,937.40). The amount is double his projected goal of $1,500!

Start an Airfunding project today!

Inspired to receive financial assistance through crowdfunding? Start an Airfunding project here. Remember to share your project link with family and friends to help you raise more funds.

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Airfunding receive funds

Airfunding: How to receive my collected funds

It’s probably your first time to list a project on a crowdfunding platform like Airfunding and you’re wondering how to receive your collected funds. Then, you are in the right place.

The majority of crowdfunding platforms have their own set of rules. It’s prudent to thoroughly read these rules before selecting a platform to avoid having to stop your campaign before it even begins.

If you do not do your due diligence to do research before launching your crowdfunding campaign, your chances of success decrease dramatically.

Read more to learn on how to receive your funds for your listed Airfunding projects.

[YouTube] Airfunding: How to receive my collected funds!

Steps to collect funds

collected funds
Photo by Karolina Grabowska from Pexels

Verify your identity

Before Airfunding sends you your campaign funds, you are required to complete certain checks to verify your identity and information. This is done to prevent fraud and swindle and to ensure that supporters feel secure when deciding to support a project.

Simply input the information being requested in the menu “Bank Account Settings”. Enter the name of the bank account holder under the Bank Account Owner Field. If written in Thai, Chinese, or other characters, then rewrite your name in English. On the succeeding field, upload a picture where you are holding any identity card such as passport, driver’s license, or any government ID.

You may undergo identity verification at any period while your project is still active. It is recommended for you to do it as soon as possible to avoid forgetting.

Request for Withdrawal

In comparison to other crowdfunding platforms, Airfunding allows project owners to withdraw funds at any time as long as the amount you are requesting to withdraw is $100 or more. You may do this by tapping the request for a withdrawal button at the bottom of “My Project Page”.

The remaining funds which you haven’t received yet will be sent at the end of the project with the incurred 8% fees for the transfer and bank fees.

Currency of Funds

At the moment, Airfunding only supports US dollars. Hence, collected funds will be transferred in US dollars.

Transfer Process

The usual remittance method being utilized by Airfunding is Wise, but you may check out other options as well.

Through Wise

To complete the transfer, the project owner will be contacted through the email address provided at the Personal Identification menu and will verify your bank account information.

In the case that the money wasn’t successfully sent due to failure to follow the Wise instructions, the transfer will be cancelled and refunded to us.

Make sure that you follow the instructions in the email within the allotted time frame to avoid delays.

Through Paypal

Most of the transactions are done through Wise, but in the event that you need it in your Paypal account, this is also possible.

Register your PayPal email address in the Personal Identification menu and the collected funds may be transferred to the specified PayPal account.

Through Bank Account

In order to transfer the funds to your bank account, Airfunding will send you an email asking for the information needed.

Once all bank details are verified, Airfunding will process your request.

Collecting Funds

You may opt for any of the transfer methods mentioned above. However, for those countries without any remittance method available, you may discuss with the Airfunding staff an alternative payment method. The most used option for this case is to use a receiving account (yours or from a close person) that is registered in a country with an available remittance method.

To know more details about collection of funds, you may read the Frequently Asked Questions (FAQs) here.

Start with Airfunding now! 

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