I'm failing to see how this is any different than a loan, with the exception you can pay a loan back early AND you know how much you owe the lender. This just seems like for $100k (based on the 5 backers at the minimum $20k that is quoted above) you could be paying many times that for success that is unrelated to the money that you received.
> Girouard noted the funding is different than a loan because there is no guarantee of repayment.
Well, I am skeptical, but also glad someone decided to try it out - the chances are slim, but this is so unusual some unexpected good may yet come out of it.
That's how loans are supposed to work.
