From my email inbox:
By Justin G. Moore
A little over one year ago I started looking for new ways to diversify my investments. As the declining economy led to interest rate cuts on my regular savings and money market accounts, I wanted to find if there were other places to invest my money aside from regular bank accounts or bonds with limited returns.
Inspired by the idea of helping other people while helping myself with a return on my investments, I looked into whether or not microlending was something I could do and found MicroPlace.com. In total I have invested over $2,500 in various funds averaging a return of about 3%; that is more than my bank currently offers for a money market account at 1.5%.
In April CBS Evening News did a story on the microlending trend gaining traction, with the help of services like MicroPlace, here in the United States. In their investigation, they were able to track money I invested to one of the funds’ recipients in a village near Lima, Peru, where a woman named Paulina used a microloan to help operate her business making artisanal ceramic pieces. The help financing her business allowed her to employ others and send her son to college – all with what many middle-income Americans would consider a small sum. According to MicroPlace, the money I have invested has helped at least four people like Paulina run their businesses and improve the lives of their families and communities. It is wonderful to know that my small recurring investments of twenty or fifty dollars here and there can have such a big impact. As microfinance continues to gain traction as a viable method of empowering people and supporting both financial and social responsibility, communities all over the world and hopefully here in the United States will be able to benefit from even the smallest of investments.
Watch MicroPlace featured on the CBS Evening News with Katie Couric!
Popularity: unranked [?]
- GlobeFunder Hires James von Kreuter as EVP, Business Development and Managing Director, Capital Markets.Kalamazoo, MI. – September 11, 2007 â GlobeFunder, an online microlending marketplace, is happy to announce the hiring of James von Kreuter as Executive Vice President, Business Development and Managing Director, Capital Markets. âJim brings a high level of expertise to GlobeFunder through his experience with institutional financial service clients…….
- Prosper Lending Review — 11 perspectives on p2p lendingProsper Lending review has an excellent new article. It combines 11 responses (including both Lending Club, Prosper, and yours truly) to a reader’s question.Â It is well done on all front’s.Â Here is the question asked: Reader’s Question: I am in my mid-30’s. I am not rich, but I am……
- pninen in Prosper forums — Magnificent Writeup on the Lender Costs of Not Paying InterestHere is the post in it’s entirety because it is that good: In the early days of Prosper, I estimated that the cost of my idle cash (cash balance waiting to be bid, cash tied up in bids, cash tied up in loan verification, cash tied up waiting for payments……
- Pertuity Direct Launcheshttp://www.pertuitydirect.com/docs/launch_press_release.pdf Pertuity Direct Launches Next Generation Social Finance Platform Company Brings Together the Advantages of Capital Markets, Social Networking and Traditional Banking Vienna, VA, January 22, 2009 â Pertuity Direct, an online consumer financial services company built on the foundation of mutually responsible banking, today announced the launch of its……
- Lending Club on ABC NewsLending Club was featured on the ABC Nightly News…Â P2P Lending is certainly starting to raise it’s profile… Social Lending Networks, New Alternative to Banks I enjoyed this portion of the article…Â There is a video if you follow the link above. Lending Club actually started as a Facebook application,……
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From Lending Club in my email:
Since January 1, 2009 more than 11,000 new investors have joined Lending Club. That 122% increase brings the current size of our investor community to over 20,000 investors!
To thank you for being an innovator in one of the fastest growing asset classes, when you invite your friends to […]
Continue reading → $50 to Try Lending Club
Pertuity Direct Launches Next Generation Social Finance Platform
Company Brings Together the Advantages of Capital Markets, Social Networking and Traditional Banking
Vienna, VA, January 22, 2009 – Pertuity Direct, an online consumer financial services company built on the foundation of mutually responsible banking, today announced the launch of its next generation social finance platform. Pertuity Direct’s platform […]
Continue reading → Pertuity Direct Launches