Posted on 03/19/2020 8:31:25 AM PDT by Kid Shelleen
Consumers concerned about the survival of their local businesses amid the coronavirus outbreak can now help, through new technology-enabled platforms that allow shoppers to buy for a better future. On Wednesday, online small business lender Kabbage launched a service that allows any business to sign up and sell gift certificates to consumers for future use at their retail locations. Small businesses on the platform can sell gift certificates ranging from $15 to $500. Revenue is then received by the small business within one business day of purchase.
(Excerpt) Read more at cnbc.com ...
Of course if the company goes out of business before you redeem the gift certificate you are SOL.
Are these gift certs baked by the FDIC? I don’t think so.
Probably 90% might not make it, despite your purchase
Not to mention the middle-man take.
The business will not get the full amount.
Seems to me the best way to support local small business is simply to continue to do business with them.
Mom and pop restaurants are particularly affected and we can support them by ordering delivery from them on a usual day we would have normally gone out to eat there.
Of course, this will not help bars and nightclubs that are strictly watering holes with no restaurant component.
They claim they are not taking a fee. It’s a “free service” but as others have stated if the business closes you lose your money.
—Not the best time to leave a ring for resizing.
—Not the best time to leave a watch for repair.
—Not the best time to put down a down payment toward a larger purchase.
— But gift certificates...they are great! (sarc)
Your reasoning is too logical and too common sense to be published at large... I demand you retract it immediately
Exactly. This can only be a good plan if you assume you’ll never get to use the gift certificate.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.