Can Crowdfunding Replace The System of Loaning Money During Emergencies?

Typically, all families have a savings plan, and especially in India, saving for the future is a must. Parents usually worry about the future of their children, and hence saving for education is one of the biggest reasons why people plan their savings well in advance. While saving for a rainy day was, and always will be a great practice, sometimes, certain events in life occur so suddenly and unknowingly that they completely change your fate.

These are situations that leave you no time to prepare for what’s coming. Yes, we’re talking about emergencies that cause your saving to get depleted overnight. This is why we at Impact Guru, want to reassure anyone who’s ever gone through a dreadful emergency, that in such times, our platform for a fundraising india can help you come out of your problems faster.

The first thing you would have to do is arrange quick money for whatever the urgent situation may be. Often times, the situation could even be life threatening. The natural course of action for anyone who’s facing such an emergency is to find the fastest way to get money. This usually implies that they would first run to relatives and friends, and borrow money from them. The second course of action is to apply for a loan. There are multiple problems with this one.

Applying for a loan is a lengthy and long-drawn procedure, and when we speak of emergencies, there usually isn’t much time available to go through the process of applying a loan, waiting for approval, and then waiting on the funds to come in. The second problem with loans is that they are usually given at high interest rates, causing people years of financial burden ahead, to repay that loan. If it doesn’t get repaid, they may lose their assets and ruin their credit rating in the banking system too. In emergency cases when loans are taken against assets like homes, jewelry, and other personal belongings, people could become homeless if not repaid.

Lastly, we must acknowledge, that not everyone in our country is in a position to get a loan. With the larger population being from economically weak backgrounds, even applying for a loan is out of question. The above mentioned problems with loans even apply for medical insurances. In addition, even if a person does have insurance, sometimes the amount is not sufficient to cover critical medical crisis’ that require extensive treatment.

If there is one solution to overcome all the problems we’ve discussed above, it is online fundraising. It’s only through a fundraising india that people can raise quick and debt-free money in case of emergencies. Below we’ve noted down a few events that may be considered emergency causes:

  1. Natural disasters relief emergency funding, such as floods, earthquakes, tsunamis etc
  2. Medical emergencies, or medical surgeries that need to be performed in within 48 hours
  3. Accident crowdfunding for medical crisis and emergency hospitalization or ICU care for victims of accidents
  4. Funding for refugees or families who have suddenly been uprooted from their lives
  5. Funding for veterinary care of pets or stray animals who may be in need of emergency treatment

These are only a few example – beyond these, other emergencies too may be funded for on Impact Guru’s fundraising india website. If you, or anyone you know is strapped for finances, let them know that monetary relief is only one campaign away.

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