2 ms·

Prosper.com + Kiva.org = myc4.com (I just loaned €15)

2 points by rms 18y ago

rms 18y ago
I can't see detailed information about the loan listings until I upload €15... annoying, but I wanted to see the loan listings enough that I uploaded €15. My money is going to Faith Masaba who wants to buy more equipment for her restaurant/catering business, like a microwave. I get 13%. Faith is borrowing €700.00. Faith says her TV, refrigerator, and furniture are collateral. So this is really like a more exploitative version of Kiva that has done away with the pretension of being a non-profit and instead is copying Prosper's model. Go capitalism. My prosper investments all bombed when the credit markets collapsed, Africa is (bizarrely) probably a more stable place for p2p lending than Prosper. You also get the advantage of working in the Euro. Faith Masaba Local Restaurant [Uganda] Uganda Faith owns a local restaurant and offers catering services as well. She would like to purchase more equipment like food warmers and a microwave. This will enable her to serve a wider client base. Total Amount: €700 (Issued in: Local Currency) Wanted Interest Rate: 13.00% p.a. Current Interest Rate: 13.42% p.a. Transaction Cost: 36.77% Total cost for Business: 50.20% (APR) / €117.38 Payback Period: 9 months Provided by: FED Lender: CMC Entrepreneur: N/A Bidding ends: 02.08.2008 10:37 CET * * The Provider reserves the right to close fully funded Businesses with 24 hours notice. Investment Status: Multiple Investors 16% has been bid. You can still bid up to €585.00 Provider Statistics MyC4 Partner Since: 31.05.2007 12:16 CET Businesses Funded: €1,475,691.00 in 1169 Businesses Repayments Received: €361,285.99 Defaults: 0.02% of repayments until today €356.85 in 1 loan(s) defaulted
ph0rque 18y ago
Interesting concept... I wonder if they let you do blanket investments, similar to investing in index funds?

2 points by rms 18y ago

rms 18y ago

I can't see detailed information about the loan listings until I upload €15... annoying, but I wanted to see the loan listings enough that I uploaded €15. My money is going to Faith Masaba who wants to buy more equipment for her restaurant/catering business, like a microwave. I get 13%. Faith is borrowing €700.00. Faith says her TV, refrigerator, and furniture are collateral. So this is really like a more exploitative version of Kiva that has done away with the pretension of being a non-profit and instead is copying Prosper's model. Go capitalism. My prosper investments all bombed when the credit markets collapsed, Africa is (bizarrely) probably a more stable place for p2p lending than Prosper. You also get the advantage of working in the Euro. Faith Masaba Local Restaurant [Uganda] Uganda Faith owns a local restaurant and offers catering services as well. She would like to purchase more equipment like food warmers and a microwave. This will enable her to serve a wider client base. Total Amount: €700 (Issued in: Local Currency) Wanted Interest Rate: 13.00% p.a. Current Interest Rate: 13.42% p.a. Transaction Cost: 36.77% Total cost for Business: 50.20% (APR) / €117.38 Payback Period: 9 months Provided by: FED Lender: CMC Entrepreneur: N/A Bidding ends: 02.08.2008 10:37 CET * * The Provider reserves the right to close fully funded Businesses with 24 hours notice. Investment Status: Multiple Investors 16% has been bid. You can still bid up to €585.00 Provider Statistics MyC4 Partner Since: 31.05.2007 12:16 CET Businesses Funded: €1,475,691.00 in 1169 Businesses Repayments Received: €361,285.99 Defaults: 0.02% of repayments until today €356.85 in 1 loan(s) defaulted

ph0rque 18y ago

Interesting concept... I wonder if they let you do blanket investments, similar to investing in index funds?