Loft creates $950K fund to support construction workers

LatAm ListLoft, a Brazilian real estate startup, announced the creation of a $950K (R$5M) fund to support construction workers who are currently unable to work due to the COVID-19 quarantine.

The fund was created in partnership with Decorati, a construction startup recently acquired by Loft. 

Clients who have had construction work on their houses interrupted but have already paid for the job will be participating in this fund. These contributors will receive a 1% discount for every month that work takes place on their properties, including the disrupted months.

Loft and Decorati will double the money donated to the fund, which will be paid directly to approximately 12,000 construction workers whose projects have been interrupted by the quarantine.

“By the completion of the building, clients will make a gain of up to 300% of CDI through the discount,” said Marcus Grigoletto, co-founder of Loft and Engineering and Architecture Director of Loft and Decorati.

Read more on Exame.

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