ATB BoostR COVID-19 update
We've been listening
We’ve made changes to the ATB BoostR platform in order to help small businesses get quick access to capital, and provide a platform to connect with their biggest fans.
Check out our BoostR FAQ below. To learn more about how ATB is helping businesses through relief programs, visit us here.
ATB BoostR is ATB’s rewards-based crowdfunding platform. It gives Alberta entrepreneurs a place to raise money often in exchange for a “reward” (to pre-sell a product, service or experience). Entrepreneurs can choose from two different campaign models to help them raise funds.
ATB BoostR also provides online shopping services for businesses without their own.
To help support businesses launching campaigns during COVID-19 crisis, ATB Financial will waive our 3.1% platform fee. Campaigners will only be responsible for the credit card processing fee ($0.30 per transaction) and the 2.9% Stripe payment process fee.
We believe in Alberta businesses, and we understand that the COVID-19 pandemic is causing a lot of uncertainty and worry for business owners. We want to provide an online platform for businesses to still receive capital while their doors may be closed. Together, we will get through this.
Any Alberta-based business (for profit or not-for-profit) can register and create a campaign, whether they are an ATB customer or not. Traditionally, ATB BoostR campaigns have been used to start and grow a business or test an idea. During the pandemic, however, businesses can use BoostR to generate cash flow, even while their doors may be closed in some cases. This could mean selling existing inventory or gift cards, or pre-selling products, experiences, or services, or simply asking for the community to support you through a donation.
No, security regulations do not allow anything that can be thought of as a security ownership in the business or its assets to be offered as a reward. Nor can a reward be similar to a loan repayment or cash.
We are currently updating the backend of BoostR to ensure timely payment for our businesses. Expect to see your first payment on or before May 1st. After May 1st, credit cards will be charged every Wednesday and you will see the funds in your account approximately 5 business days after.
We are currently updating the backend of BoostR to ensure timely payment for our businesses. If you have boosted a campaign prior to May 1st, expect to see your credit card processed on May 1st. If you have boosted a campaign after May 1st, your credit card will be charged the Wednesday following your contribution. We have temporarily changed our current model to a flexible model in light of COVID-19—now, whatever funds are raised are given to the business, regardless of that business hitting their crowdfunding goal.
The business owner will contact you at the end of their campaign to organize getting your reward to you.
Fulfilling rewards is the responsibility of the business that received the funding. Neither ATB BoostR nor ATB can guarantee fulfillment. We suggest you take the time to make an informed decision before supporting campaigns on any crowdfunding platform. Read the company’s story, check out the website or related links, and make sure you are comfortable with the business and its goals before you contribute.