Here are the entrepreneurs I'm supporting with microfinance loans for my second round at bat:
Sanath Kumara Narangoda
Sector: Handicraft
Loan Amount: $393.70
Guarantee in force: $196.85
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/232
Pathmini Dasanaya Ralalge
Sector: Services
Loan Amount: $236.22
Guarantee in force: $118.11
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/235
Sunetra Podimenike Kuruppu Mudiyanselage
Sector: Services
Loan Amount: $393.70
Guarantee in force: $196.85
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/238
Dayaratne Horatal Wedige
Sector: Construction
Loan Amount: $393.70
Guarantee in force: $196.85
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/239
Chamila Manori Jayaratne
Sector: Agriculture
Loan Amount: $236.22
Guarantee in force: $118.11
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/240
Chandrawathi Wedalage
Sector: Agriculture
Loan Amount: $236.22
Guarantee in force: $118.11
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/241
Mangalika Chandrakanthi Aluthdurage
Sector: Agriculture
Loan Amount: $236.22
Guarantee in force: $118.11
Entrepreneur profile: https://www.unitedprosperity.org/us/entrepreneur/242
Microfinance is da Shizznit
Moderator: Global Moderator
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MachineGhost
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Microfinance is da Shizznit
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
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flyingpylon
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Re: Microfinance is da Shizznit
Just curious... is there any particular reason you go through United Prosperity instead of Kiva? I have a very small Kiva account but have never gotten around to looking at alternatives.
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MachineGhost
- Executive Member
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Re: Microfinance is da Shizznit
UP uses a guarantor model, whereas K is more of a direct lending approach. But, I also discovered UP first before K and when I checked out K, I just didn't like it.flyingpylon wrote: Just curious... is there any particular reason you go through United Prosperity instead of Kiva? I have a very small Kiva account but have never gotten around to looking at alternatives.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Re: Microfinance is da Shizznit
What sort of default rate do you see using this approach? 25% interest seems almost incredible - loan shark worthy, if you will. I don't mean to disparage it, but I think the highest interest rates also show the highest default rates, but perhaps that's simply due to the higher risk profile of these loans.
"I came here for financial advice, but I've ended up with a bunch of shave soaps and apparently am about to start eating sardines. Not that I'm complaining, of course." -ZedThou
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MachineGhost
- Executive Member
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- Joined: Sat Nov 12, 2011 9:31 am
Re: Microfinance is da Shizznit
Microfinance to help poor people become productive entrepreneurs and earn altruism brownie points and modest 1-2% returns for doing such a good deed to change the world.Storm wrote: What sort of default rate do you see using this approach? 25% interest seems almost incredible - loan shark worthy, if you will. I don't mean to disparage it, but I think the highest interest rates also show the highest default rates, but perhaps that's simply due to the higher risk profile of these loans.
25% interest is only to be had from the riskiest peer2peer lending out to fat, happy, rich, spoiled Westerners to consolidate their debt, pay for overpriced weddings, buy a car lemon, etc..
But hey, I could be wrong!
Last edited by MachineGhost on Wed Jan 30, 2013 10:05 pm, edited 1 time in total.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!