Lenders: How it works:
Lenders join the site and begin searching for interesting projects. They can search by industry, project cost, location, and other filters to help identify projects. Brewers, Vintners and Distillers offer incentives/gifts to lenders. These can range from discounts on the products to t-shirts to advanced access to limited releases. It is up to the Brewers, Vintners and Distillers to be creative to incentives you to lend to them, and are tiered to promote greater participation. Once you have identified a project you wish to lend, click on the contribute button, determine the amount you wish to lend, and agree to the terms.
Once you agree to lend, you are charged the amount of your pledge, and the money is deposited into your EcoDrinker.com account and held as pledged. You can lend to multiple projects at any time as long as you have the balance in your EcoDrinker.com account. If the loan amount requested for a Brewer, Vintner or Distiller project is successfully raised, the project will be funded, and the work can begin. Brewers, Vintners and Distillers do not receive funds directly. All money held for a project are paid directly to contractors and vendors as defined the project agreement. All funds are paid against costs and invoices directly related to the project. EcoDrinker.com fees are included in the total funds raised for a project, so you will not be charged for participating.
Once the work is completed, as Brewers, Vintners and Distillers repay their loans, participating Lenders will receive credits to their EcoDrinker.com accounts. Once funds are credited to your account, you can cash them out or leave them to re-loan to other future projects. You will be able to track account balances, pledges, environmental savings from completed projects, loan repayment and other information from your portfolio for each project you have lent to on your personalized home page.
- There is a chance that a successfully funded campaign will not repay the loan due to a variety of reasons, ranging from the project not realizing expected savings, company bankruptcy or closing, and other. As a participant, you fully accept this risk. EcoDrinker.com will make all possible information available regarding the project, but lenders should do their own research on the Brewers, Vintners and Distillers before they commit funds.
- Lenders agree to accept the risk that they will not be repaid their original loan amount if the Brewer, Vintner or Distiller fails to repay based on the contract terms. Lenders agree to hold EcoDrinker.com and participating Brewers, Vintners and Distillers harmless, and will take no recourse to collect defaulted payments. EcoDrinker.com may choose to pursue defaults, but each instance will be treated individually.
- EcoDrinker.com will use the latest security technology available to ensure your privacy and security. There is always the risk of hacking or other malicious virus, bug, malware, Trojan horse, etc.... EcoDrinker.com will use state of the art account management technology to ensure safe and secure transactions, and will be in compliance with all funds transfer regulations and requirements.
- EcoDrinker.com will post as much information as possible to enable lenders to make educated decisions. Transparency is key, but risk exists that no funds will be returned, and the Brewer, Vintner or Distiller will default on the loan. Projects may still be successful, but the economic benefits may not produce the desired return to repay the loans.