All You Guys With More Money Than Brains!
 

This just struck me as really, really cool:

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Kiva.org is the world’s first peer-to-peer, distributed microloan website. A great idea where PayPal meets Gates Foundation. The site allows you to lend a small amount of money, say $25, to needy microenterprises in developing countries. You receive repayment at the end of the loan period (normally 6-12 months) without interest. If they default on the loan, your loan becomes a donation – though none of the businesses have defaulted yet. A great low-risk, high-reward idea.


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Linky

As someone whose been involved in a couple start-ups, I know how difficult obtaining finanacing can be even in North America, I can't imagine in the third world!

A quick Google search looks like it's legit, even if a lot of the site does read like those Nigerian emails...

A similar organisation is the Grameen Foundation though you don't get the same level of feedback.

Re: All You Guys With More Money Than Brains!
 

[ QUOTE ]
This just struck me as really, really cool:

[ QUOTE ]

Kiva.org is the world’s first peer-to-peer, distributed microloan website. A great idea where PayPal meets Gates Foundation. The site allows you to lend a small amount of money, say $25, to needy microenterprises in developing countries. You receive repayment at the end of the loan period (normally 6-12 months) without interest. If they default on the loan, your loan becomes a donation – though none of the businesses have defaulted yet. A great low-risk, high-reward idea.


[/ QUOTE ]
Linky

As someone whose been involved in a couple start-ups, I know how difficult obtaining finanacing can be even in North America, I can't imagine in the third world!

A quick Google search looks like it's legit, even if a lot of the site does read like those Nigerian emails...

A similar organisation is the Grameen Foundation though you don't get the same level of feedback.

[/ QUOTE ]

So there's no interest and no penalty for defaulting? Just call it a donation to begin with

Re: All You Guys With More Money Than Brains!
 

This makes far more sense than invesating the money in a start-up that you've evaluated and has a solid business plan. You wouldn't want there to be actual investors to make sure the money wasn't wasted and to keep things on track. You wouldn't want to actually earn a return on your "donation". [img]/images/graemlins/confused.gif[/img]

Re: All You Guys With More Money Than Brains!
 

I wouldn't do this as a business enterprise for obvious reasons, and I wouldn't do it for charity because how the hell do I know where my money really ends up.

Re: All You Guys With More Money Than Brains!
 

Either Thomas Friedman or Paul Krugman (pretty sure TLF) talks about how awesome this micro-loan thing is.

Basically it helps people in developing worlds start businesses, which in turn helps stimulate their economies. Yeah, pretty sure TLF now. He talks about an example of a woman buying a cell phone in the Phillipines (or Africa, I forget) and then renting out talk time. Pretty awesome. For further discussion, (pretty sure) read The Lexus and the Olive Tree, by Thomas Friedman.

Even if I'm wrong, read the book anyway.

Re: All You Guys With More Money Than Brains!
 

Isn't this just charity without the tax break?

Re: All You Guys With More Money Than Brains!
 

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A great low-risk, high-reward idea.


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i dont get the "high-reward" part

Re: All You Guys With More Money Than Brains!
 

You would do this so people in 3rd world countries who have no ordinary means for generating capital can try to get on their feet. There is no benefit to the creditor, other than the satisfaction of helping people. Sorry if this is obvious, but no one who has replied so far has understood this.

Re: All You Guys With More Money Than Brains!
 

I just saw a commercial during Nip/Tuck for the UN Year of the Microloan or something like that.

Re: All You Guys With More Money Than Brains!
 

http://en.wikipedia.org/wiki/Microfinance

never heard of this before, but i absolutely love the idea and i'm going to look into it right away. the loan part is cool for getting more people into it i guess, but i don't see why there should be any juice on it. this is so much cooler than other types of donations to me. the loan thing could make a cool surprise opportunity for people to expect to pay it back and then decline them when they try though.