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#1
11-02-2005, 01:13 AM
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All You Guys With More Money Than Brains!
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. 
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#2
11-02-2005, 01:15 AM
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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
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#3
11-02-2005, 01:17 AM
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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]
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#5
11-02-2005, 01:22 AM
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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.
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#8
11-02-2005, 02:06 AM
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Re: All You Guys With More Money Than Brains!
[ QUOTE ]
i dont get the "high-reward" part [/ QUOTE ] You help some dude start a business so he can feed his family. Or, you could pay some guy a couple hundred dollars to puke up hot sauce. Your call, I guess.. I can't believe how badly you guys are missing the point. Most people do not want charity! These are legit business people who just happen to be... buying and selling goats. But this is the third world, when they need capitalisation, you figure they're just gonna put it on their Mastercard? Or maybe visit the neighbourhood Citybank? Tell me what kind of business you're going to start for a few hundred bucks in New York City? Meanwhile, for cab fare or the price of a couple drinks, you can help get someone going... They've yet to have ANYONE default on a loan. Think about that for a minute! Compared to us, these people are dirt, dirt poor and yet they manage to repay these loans even though there's no possible way to force them to do so. Why? [ QUOTE ] how the hell do I know where my money really ends up [/ QUOTE ] Like you have any idea what your bank really does with your money you have on deposit. As I said, everything I've seen points to this being totally legit. But, go ahead, do your own homework. The site's there, you know where Google is, have at it....
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