MicroPlace: "Socially responsible investments in microfinance can alleviate global poverty. Microcredit helps the billion people who live on less than $1 per day."
I've invested a bit at this ebay owned site. It's a donation to charity as well as a potential investment. You can invest here in the U.S. or overseas. I chose investments which has enabled three loans to women in business. The Latin American one earns 6% quarterly, another to Vietnam for 2.00%, and a U.S. based one for 3.00%. I did research the funds online before investing.
I found this so exciting to be able to help. You can choose your investment by poverty level, investment return, and/or region. There is no guarantee that the loans will be repaid, but it appears that there is a good track record with the microfinance organizations featured on Microplace. The interest rates charged to the borrowers are high by U.S. standards, but low by many International standards, especially for high risk unsecured loans. I was raised overseas in poorer countries, so I know how this works. For many, this is the only way to secure start up money for their business. If you invest, be prepared for the remote chance that your investment may turn into a charitable gift.
Learn more about Microplace here.
HT to My Money Blog who got me involved with his post.
For those interested in making direct loans to individuals, a more personal experience, try Kiva.com .
About Me
- Alexandra
- A homeschooling mother of one teenager and a little. In 2001, I resigned from my 13 year position as a case manager to homeschool my oldest who was a preschooler at the time, and later a daughter who came along in 2005. This is by far the hardest job I've ever loved. My husband of nearly 20 years supports us as a fire fighter and EMT.
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2 comments:
Thank you for this.
You are welcome. :)
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