No, it's not an interest free loan. And WHY they're able to offer a full refund is really no one's concern. The fact is they feel they can't deliver what was promised, and they're giving refunds. Somehow they're just as bad as the people who keep claiming "it's coming!" for years and never give money back? Seriously, kickstarter is a risk, if you get a product, great, if you get your money back, also great. You pays your money you takes your chances. Complaining about getting a full refund is ungrateful and ridiculous.