Wefunder launches business loans to help startups survive the coronavirus crisis

Investment crowdfunding company Wefunder has announced a Coronavirus Crisis Loan programme to provide businesses with a strong cashflow through the COVID-19 crisis.

Companies can get loans from between $20,000 to $1m with payments deferred until 2021, according to TechCrunch.

Wefunder does, however, take a 3.75% slice of the loans, which its lower than its usual 7.5%. Wefunder also charges individuals a 2% cut from their contribution.

Wefunder has also announced a three-month startup accelerator programme focused on startups that can help tackle problems that will result from the crisis.

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