I noticed prominently displayed Microplace ads on Technorati.com today. Not sure if it is really keyword-targeted or rather context targeted. When I did searches on Technorati on Globefunder or Kiva I was shown Microplace ads.
Technorati is an interesting choice for the campaign (if it runs only there – I did not check). Technorati is mainly used by bloggers and journalists. The ads would therefore target not the individual investor but the multiplier who might write about Microplace. I noted that the ad display is NOT using geotargeting meaning it is not only shown to US residents but to viewer worldwide (only US residents can use Microplace at the moment).
(Sample screenshot after search for globefunder)
(Another sample ad, original is larger and flash animated)
Today the first loan application of a borrower from Kenya was uploaded at MyC4.com. Rose Njeri runs a toys and decoration shop and wants a 2000 Euro loan to buy more products in Dubai. The loan term is 9 months, the maximum wanted interest rate is 15.5% (but currently loans at MyC4 all close at lower lender interest rates). Kenya is the third country MyC4 services after Uganda and Ivory Coast. The local partner (provider) in Kenya is Growth Africa.
13 minute video (careful the video is >300 MB, requires fast internet connection) on MyC4. MyC4 facilitates peer to peer microloans to African entrepreneurs.
The video shows the situation in Uganda and many borrowers who talk about their plans. During an audience the founder gets praise by the wife of the president of Uganda for the concept.
After MyC4.com was featured on Danish national TV in a 15 minute feature many new lenders signed up. Within 3 days lender count rose from about 500 to currently 964. At MyC4 lenders (called investors) loan money to African entrepreneurs. The bidding frency of new lenders did lower closing interest rate dramatically. Loans now closed at 2 to 3 percent lender interest rate (previously usually 10 to 12 percent). MyC4 will now have to increase the number of listings, otherwise they might be temporably be sold out like happened to Kiva. Yesterday the first loan listings from Ivory Coast went online.
Peer to peer lending is about one individual lending money directly to another individual. By this definition there is no way companies as lenders would fit in, or is there? I reported earlier that Prosper seeks a Vice President Institiutional Lender Development. Comments in the Prosper forums on that plans were mostly negative.
MicroPlace’s mission is to help alleviate global poverty by enabling everyday people to make investments in the world’s working poor.
Our idea is simple.
Microfinance institutions around the world have discovered an effective way to help the world’s working poor lift themselves out of poverty. These organizations need capital to expand and reach more of the working poor. At the same time, millions of everyday people here in the United States are looking for ways to make investments that yield a financial return while making a positive impact on the world. MicroPlace simply connects investors with microfinance institutions looking for funds.
The result: more microfinance in the world, satisfied investors, and above all, fewer people living in poverty.
Lenders (termed investors) can invest via Paypal (no paypal fees). Their money goes to the selected microfinance institution (MFI). The MFI uses the money on the purpose described. The investor buys a security issued by a security issuer. Currently investment offers have terms of 2 to 3 years with interest rates between 1 and 3 percent. Each investment offer (example) is described in detail by a prospectus.
Only U.S. residents are eligible to become investors. Minimum investment amount varies by offer (typically 50 US$).
