This quote is from this article in Inc. on crowd funding. Crowd funding, venture capital, angel rounds and seed money were never about "cheap capital". Factoring, bank loans, mezz money and sub debt were never about "cheap money". If you think about the cost of money you miss the point.
Capital is about growth for expansion. If you properly create additional value in the business from the expansion capital, that economic benefit should dwarf the cost of the capital. (One caveat: the cash cost of the cost of the capital needs to be less than the gross margin. For example, paying a factor 6% per month when the gross margin is 5% probably does not work. Paying a factor 6% per month when the gross margin is 70% probably works.)
Crowd funding was never about cheap money. Crowd funding is a new way for entrepreneurs to access capital from around the world (web). Crowd funding is about early stage investment capital. Crowd funding is about not having to go through some government program to get startup capital. Crowd funding is about capital for entrepreneurs in Des Moines, Portland and Miami.
Now you just have to figure out how to make your investment opportunity stand out from the other 100,000 investments on a zillion sites that offer crowdfunding opportunities. That might be a challenge.