Make a difference with micro-loans

If you are looking for a way to have a direct impact on someone's life in a developing region, this could be your ticket. It is a pretty fascinating market segment for the financial industry. What I have read so far looks great and there are a few ways to get involved.

The basic idea is that loans are provided to entrepreneurs in developing countries at roughly 3% interest over 3-5 years on average. These loans are generally in the range of a couple or few hundred dollars and from what I have seen so far have a 98% payback rate. That's better then most "safe" investments and you are directly helping someone make a huge difference in their lives.

If you give it a go, let me know how you make out and who you help. Check out this blog entry at Bust a Change to see where I first read about this.

No comments:

Post a Comment