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Any microfinanciers here? (TB Microfinance Thread)

Discussion in 'Off Topic [BG]' started by tplyons, Dec 25, 2013.

  1. tplyons

    tplyons

    Joined:
    Apr 6, 2003
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    Through some of the people I work with, I have become very intrigued by microfinance. For those who don't know, microfinance is a source of finance for those who cannot obtain these services from traditional sources like banks. Many individuals will make small microloans to an individual, say $25 apiece and the borrower will receive $750 (from a total of around 30 lenders) in order to finance personal or business needs, and will repay that loan in a traditional manner.

    It tends to be higher risk than traditional loaning, but I feel its worth the risk to help people in impoverished areas. I made my first microloan back in March, and have made a few small ones since then, but in September I decided I would make at least one $25 microloan every month. I even gave my family a $25 donation to make microloans themselves for Christmas.

    What are your thoughts? Any stories?
  2. jmattbassplaya

    jmattbassplaya

    Joined:
    Jan 13, 2008
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    As an investor, I can't see the appeal at all. There's just too much risk for such a small, potential return. As a charitable person, I think this is a much better idea than giving money to a traditional charity. I like when I can see how my money is positively affecting someone.
  3. tplyons

    tplyons

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    I don't approach microloans as an investor... this is money that I expect to lose but hope to see again so I can give it to someone else. I approach them as a donation and a way to pass my good fortune forward.

    For me, I work an hour of overtime and can make a $25 microloan. Why not do a little bit extra to help someone out?
  4. iammr2

    iammr2

    Joined:
    Jun 10, 2002
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    Just send your money to me then. If you're expecting to lose then I can help you exceed your expectations.
  5. michael_atw

    michael_atw Supporting Member

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    Feb 28, 2009
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    Payday loans?
  6. Selta

    Selta

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    Feb 6, 2002
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    Disclosures:
    Uncompensated endorsing user: EBMM
    I've done this off an on over a couple of years now. It's interesting, and so far I only lost a very small amount (I think it was $25 or $50). I don't approach it as investing or expecting any kind of noticable ROI.

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