Wednesday, January 28, 2009

Micro-loans

Micro loans are gaining momentum and in doing so changing lives around the world. Micro loans operate by donors giving small amounts of money, about $25, to an unemployed or poor entrepreneur who lacks the credit to get a traditional bank loan. The lendees have plans as to what to do with your money, and in most cases your money will be paid back within a year, so that you can invest the money again in another lendee.
Kiva is the first person to person micro loan site on the web; here you get to choose the person who you want to lend to.
Another interesting micro loan site that I have stumbled upon has to do with people seeking treatment for their children with autism,
lend4health. Lendees propose how much money they need and what treatments they are looking at.
I find the idea of mirco loans really facinating; there's not a lot of risk to you or your financial stability, but you can make a huge impact for someone else. New business is good for everyone.

No comments: