'We're with you after funding success'... Wadiz Launches 'MakerLoan,' Financial Support Service for Makers
'We're with you after funding success'... Wadiz, Launches 'MakerLoan' Financial Support Service for Makers
- After successful funding, production funding shortages and product improvement, marketing funds expected to play a gateway role
- Custom service for startups and small business owners with 'verified product competitiveness' who have difficulty obtaining loans from financial institutions
Wadiz Finance, Wadiz's financial subsidiary, is launching the MakerLoan service and beginning full-scale operations as a 'startup financial support platform.'
Wadiz, a lifestyle design crowdfunding platform, announced on the 14th that 'Wadiz Finance,' a financial subsidiary spun off from Wadiz Inc. last year, has launched its first 'MakerLoan' loan support service for startups and small and medium enterprises (SMEs), which are Wadiz's main customers.
The 'MakerLoan' service was designed to support makers who have successfully funded on Wadiz but lack production funds, or need follow-up product improvement and marketing funds. It is expected to emerge as an alternative solution to the difficulty many Wadiz makers, who are largely self-employed or small business operators, face in obtaining loans from financial institutions based solely on creditworthiness without collateral.
The service targets makers who have successful funding history on Wadiz and are listed on the Wadiz Store, with loan limits determined through an examination process. Makers can secure funds at interest rates of 5.0%~9.9%, which are lower than banks, and there are no prepayment fees.
Loan funds are provided through the MakerScaleUp private equity fund operated by Wadiz Finance, and detailed information can be found on the 'Apply for Wadiz Maker Financial Support' page on the Wadiz website.
A Wadiz Finance official stated, “We launched 'MakerLoan' to address the situation where makers with verified product competitiveness lose lending opportunities from financial institutions due to insufficient credit and fail to gain growth momentum at the right time,” and added, "We plan to provide customized financial support services not only through this service but also through various methods such as attracting investments utilizing brands or IP (intellectual property) developed by makers."
Meanwhile, Wadiz separated its organization in July 2021 to maximize specialization and efficiency, dividing corporations into Wadiz Inc. (non-financial divisions: funding, Wadiz Store, space Wadiz) and Wadiz Finance and Wadiz Partners (financial divisions: investment, loan support), and is establishing itself as a D2C platform driving growth of the startup ecosystem beyond funding.