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#1
11-15-2007, 07:19 AM
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Micro loans
Maybe this belongs in finance, but I am also interested in the political potential for these things.
if you don't know what it is, it is basically internet based mediators where ordinary people can grant loans to people/small business in primarily underdeveloped countries. Claims are made of very high % of payback and very positive effect. I think this is interesting to the degree it places banking in the hands of private consumers/individuals and the direct decision and influence you have on where your money goes. Sites that pay interest directly to the lender have also been started (normally sites in the past have taken interest for themselves only, making it more a 'charity' loan for the lender) - which I see as a very interesting development. Thoughts? Implications? Nonsense? Brilliant? 
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#2
11-15-2007, 07:26 AM
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Re: Micro loans
Anything that helps these people build capital without having to deal with the corruption of their governments is obviously a benefit.
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#3
11-15-2007, 08:50 AM
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Re: Micro loans
Well on those governments I will def. agree with you. I just read about it and thought it was incredibly neat if we as private individuals can get to invest in the small businesses of our choice in these countries. We also have some economists who sometimes prowl these forums and I was wondering what they would say. Maybe I'm a bit overly idealistic here, I'm sure as time goes we will see scams and similar, but still this could potentially become a big thing.
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#4
11-15-2007, 09:02 AM
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Re: Micro loans
[ QUOTE ]
Well on those governments I will def. agree with you. I just read about it and thought it was incredibly neat if we as private individuals can get to invest in the small businesses of our choice in these countries. We also have some economists who sometimes prowl these forums and I was wondering what they would say. Maybe I'm a bit overly idealistic here, I'm sure as time goes we will see scams and similar, but still this could potentially become a big thing. [/ QUOTE ] This will do more good for the people of the third world than all the foriegn aid ever given. (In fact that's not too tough cos all the foriegn aid ever given has clearly had a net negative effect)
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#5
11-15-2007, 10:29 AM
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Re: Micro loans
[ QUOTE ]
Maybe this belongs in finance, but I am also interested in the political potential for these things. if you don't know what it is, it is basically internet based mediators where ordinary people can grant loans to people/small business in primarily underdeveloped countries. Claims are made of very high % of payback and very positive effect. I think this is interesting to the degree it places banking in the hands of private consumers/individuals and the direct decision and influence you have on where your money goes. Sites that pay interest directly to the lender have also been started (normally sites in the past have taken interest for themselves only, making it more a 'charity' loan for the lender) - which I see as a very interesting development. Thoughts? Implications? Nonsense? Brilliant? [/ QUOTE ] I'd rather draw to an inside straight without sufficient implied pot odds.
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#6
11-15-2007, 10:42 AM
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Re: Micro loans
FYI, I think the most well-known site to get involved with this is http://www.kiva.org .
Also, Kiva was featured earlier this year on an episode of PBS Frontline World called Uganda: A little goes a long way.
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#7
11-15-2007, 10:51 AM
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Re: Micro loans
[ QUOTE ]
FYI, I think the most well-known site to get involved with this is http://www.kiva.org . Also, Kiva was featured earlier this year on an episode of PBS Frontline World called Uganda: A little goes a long way. [/ QUOTE ] I believe that if this was a money making machine, big business would have their hand in the cookie jar.
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#8
11-15-2007, 10:54 AM
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Re: Micro loans
[ QUOTE ]
[ QUOTE ] FYI, I think the most well-known site to get involved with this is http://www.kiva.org . Also, Kiva was featured earlier this year on an episode of PBS Frontline World called Uganda: A little goes a long way. [/ QUOTE ] I believe that if this was a money making machine, big business would have their hand in the cookie jar. [/ QUOTE ] You're saying if this idea made money people who wanted to make money would be involved in it? Insightful stuff.
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#9
11-15-2007, 11:09 AM
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Re: Micro loans
[ QUOTE ]
[ QUOTE ] [ QUOTE ] FYI, I think the most well-known site to get involved with this is http://www.kiva.org . Also, Kiva was featured earlier this year on an episode of PBS Frontline World called Uganda: A little goes a long way. [/ QUOTE ] I believe that if this was a money making machine, big business would have their hand in the cookie jar. [/ QUOTE ] You're saying if this idea made money people who wanted to make money would be involved in it? Insightful stuff. [/ QUOTE ] It is making money for somebody. Even if you give to United Way, only 90 cents on the dollar gets to your charity. I doubt, but prove me wrong please, that anything close to 90 cents on your dollar will get to the person needing the loan. Why, if I give to my charities directly, instead of paying United Way 10% to distribute it, would I be interested in this program? What's the cost? I think (but please prove me wrong) it's like the law firm that takes on a class action suit, the plantiffs end up with 10k each and the law firm gets millions.
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#10
11-15-2007, 11:15 AM
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Re: Micro loans
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] FYI, I think the most well-known site to get involved with this is http://www.kiva.org . Also, Kiva was featured earlier this year on an episode of PBS Frontline World called Uganda: A little goes a long way. [/ QUOTE ] I believe that if this was a money making machine, big business would have their hand in the cookie jar. [/ QUOTE ] You're saying if this idea made money people who wanted to make money would be involved in it? Insightful stuff. [/ QUOTE ] It is making money for somebody. Even if you give to United Way, only 90 cents on the dollar gets to your charity. I doubt, but prove me wrong please, that anything close to 90 cents on your dollar will get to the person needing the loan. Why, if I give to my charities directly, instead of paying United Way 10% to distribute it, would I be interested in this program? What's the cost? I think (but please prove me wrong) it's like the law firm that takes on a class action suit, the plantiffs end up with 10k each and the law firm gets millions. [/ QUOTE ] Is it that hard to read the site? I'm pretty sure that they explain how they run, and I'm pretty sure that what you donate goes to the business.
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