Hünenberg ZG – The crowdlending provider Cashare is supporting crisis-hit SMEs with a free voucher platform. The aim of the platform is to mitigate the effects of the coronavirus crisis for all companies that fall through the net of the nationwide aid program.

Hünenberg-based Cashare AG has set up an online platform by the name of A Heart for SMEs (Ein Herz für KMU) that will aim to provide liquidity to small companies and sole traders. Those willing to provide a helping hand can pay for vouchers at individual companies that can be redeemed over the coming years. The money raised in this way will support companies that will receive little or no support from the national package of aid measures announced by the Swiss government. 

While Cashare, which operates in the crowdlending sector, did welcome the national program, it was also at pains to point out in a press release that “unfortunately the Federal Council failed to include the digital economy in its solution”. The press release additionally explains that the Swiss government only considered banks in terms of vehicles for providing loans, while digitalized and FinTech companies that, like Cashare, possess comprehensive expertise in lending to SMEs, were ignored.

While Cashare regrets this situation bitterly, the company still wants to do its bit to support the Swiss economy. In this way, start-ups that have been denied access to the aid program are set to benefit from the voucher platform in addition to stores that are struggling to generate sales despite remaining open.

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