MyC4 now in public beta

September 28, 2007 wiseclerk

MyC4.com switched today from closed beta to public beta. Now it is possible to browse the site without registering. For example click on one of the opportunities on the left of the screen and you get a good idea of the concept.

MyC4 allows lenders to do microlending to entrepreneurs in Africa. Lenders do get paid interest. Check the previous P2P-Banking coverage of MyC4.

MyC4 – Microlending for profit to African entrepreneurs

August 28, 2007September 14, 2007 wiseclerk 3 Comments

Danish startup C4 World on it's platform MyC4 allows lenders to finance micro loans to African entrepreneurs (Afripreneurs). P2P briefly featured the MyC4 plans earlier. The goal is to "eradict poverty through business". The service is currently in beta, but signing up and lending at MyC4 is already possible.

MyC4 differs in its approach from Kiva: At MyC4 lenders do earn interest on the loans. Currently interest rates of 20-24% are typical with loan terms of 6 or 12 month.

P2P-Banking.com joined the Beta as a MyC4 Builder. The gathered experiences are published in an exclusive P2P-Banking.com review of MyC4:
http://www.wiseclerk.com/myc4-p2p-banking-review.pdf (0,4 MB, 3 pages)

P2P Lending in Denmark offered by Fairrates.dk

April 2, 2007May 30, 2007 wiseclerk

Today I received an email from Arkadiusz Hadjuk of Fairrates.dk informing me, that his company started to offer p2p lending in Denmark. Most of the following information was supplied by him.

At Fairrates.dk:

There are individual listings, both lending and borrowing
There are no groups
There is auction bidding down interest rates, both lending and borrowing
In case of non-payment (for over 1 month) a lender is assisted with
a collection procedure
Minimum loan is 1000 DKK (approx. 135 Euro; approx $100)
There is no maximum a lender can lend
Maximum per loan is 50.000 DKK (approx. 6700 Euro; approx. $5100)
Borrower can request minimum 1000 DKK
Borrower can request maximum 50000 DKK until his income information
is verified – then the limit is lifted up
Minimum bid is 1000 DKK
Only people over 18 years old with Danish CPR number and Danish bank
account can lend/borrow
No interest on unlend deposits
Simple fee structure (borrower pays 1% of loan amount)
Risk assessment is based on information and documentation provided
by borrowers.

I did technorati and Google searches for additional information. Since I don't speak Danish I could not find much additional information, only a profile of Arkadiusz Hadjuk and a CV of Robert Pawel Bialek (CEO).

Judging by forum activity at Fairrates.dk there is not much traffic yet.