TORONTO, ON / January 6, 2021 / Emergency Funders is a subscription-based funding company founded in 2020 during the global COVID-19 pandemic with the goal of providing funding to those in need during emergency situations.
During the global COVID-19 pandemic, Emergency Funders emerged rapidly across Canada and is now being recognized as the go-to source for funding of 2020-2021. Emergency Funders has claimed the title of being the “first-ever company to take the risk of providing funds to those in need, without ever charging interest rates nor ever requiring money to be paid back.”
Unlike the traditional way that the banks and loan agencies operate, Emergency Funders took the approach of charging their clients a weekly membership fee of $2.69 and a monthly membership fee of $10.76 at the time of this writing. You’re probably left wondering how they can possibly make a profit and keep the company afloat with such a small subscription amount while still having to cover emergency expenses for their clients. On the official Emergency Funders website, they state that “If an emergency occurs, clients receive funds. If no emergency occurs, the business earns a profit.” Since Emergency Funders was newly founded in the year 2020, they currently have a two-week grace period in which they do not send any funds out for the first two weeks to new members due to the high volume of membership signups and to prevent operating at a loss for the company. After two weeks, clients can submit requests for emergency funding to cover their emergency expenses.
Here is a list of some of the emergencies that Emergency Funders claims to cover;
- Vehicle breakdown
- HVAC issues
- Pet care
- Loss of housing (In some cases)
- Medical expenses
- Job loss
- Babysitting coverage
- Plumbing issues
- Pest control
- Ceiling leaks
- And more!
Emergency Funders is predicted to surpass an astonishing 130,000+ new membership signups by February 2021, which would generate around $260,000/week in revenue for the company. The companies rapid growth primarily resulted from the brilliant marketing tactic of incentivizing clients by offering additional emergency funding credit for referring two others to signup for a membership. Josh Hooper, the founder of Emergency Funders, stated “I’ve put maybe around $10,000 into all of this. My goal was to start something that didn’t require a lot of upfront capital but still had some sort of value to offer and be something that was scalable.”
Founder of Emergency Funders, Josh Hooper is a self-proclaimed serial entrepreneur and 19-year-old high school dropout who was born and raised for most of his upbringing in Brampton, Ontario. Hooper is most known for his mental health advocacy and is also the founder of THRIVIN, a digital therapy platform aiming to help those in need through strategic questioning and proven tactics to better overall mental health.
(Interview transcript, pictured below)
Contact Emergency Funders by visiting the official website EmergencyFunders.com or by calling +1 (855) 908-2315
You can get in touch with Josh Hooper through Instagram @joshh00per
SOURCE: Emergency Funders
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