Advanta doubles funds to Kiva loans

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Credit card issuer Advanta entered into a partnership with Kiva. The initiative is called KivaB4BProject and Advanta will match the loans made by business card holders with up to 200 US$ per card. Card holders simply select a business owner to sponsor through Kiva and make a grant using their Advanta Business Card. Advanta matches that grant, dollar for dollar, and Kiva distributes the total resulting funds.

The loans funded by this project can be seen on this Kiva lender page. Already contributed to more than 500 loans.

When the project was announced at Advanta's headquarters, Advanta flew in Kiva borrower Senerita Lilli a dressmaker from Samoa to share her story. 

MyC4 – first issue of CHANGE magazine

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MyC4 has just published a quarterly magazine to accompany it's website. The first issue of Change has 20 pages, looks stylish and has lots of information (e.g. Senegal will be the next market, where loans are available to borrowers starting in June). Here is what MyC4 says about it's magazine:

We have just released the very first issue of CHANGE – the magazine that comes all way around MyC4: Vision, business model, partners, supporters, etc.

 

For Sale: P2P lending technology

P2Ptechforsale

Editor's note: This is a paid story (ad), written by a third party which I have agreed to publish, since I believe it fits the interests of the readership of this blog. I am not involved in the sale.

Company looks to sell all rights to its proprietary P2P lending technology. The company has been quietly in development for the past year, though has now decided to halt launch plans for undisclosed reasons.

The company has developed a complete P2P lending web application that will provide any aspiring P2P company with technology to support rapid deployment in any geographical market. It is based on the popular auction-style bidding format for lenders. The front end is fully branded, and sale can be made to include branding, or packaged as a white-labeled solution.

Terms of sale can be negotiated to include customization, enhancements, and project management / consulting.

This is an extremely rare opportunity to acquire the world's only out-of-the-box P2P lending system allowing the purchaser to enter the red-hot Person-to-Person Lending space.

All enquiries should be directed through the website at:
www.p2ptechforsale.com

Technical specifications, terms of sale, and all other questions will gladly be discussed under terms of a standard Non-Disclosure Agreement.

Serious enquiries only, please.

New at Smava – business loans, larger amounts, longer terms

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German p2p lending service Smava.de made some changes:

  • Borrowing for business purposes is now allowed. The borrower still is an individual person but is no longer limited on private purposes of the loan
  • Borrowers may borrow up to 25,000 Euro (approx 39,200 US$), previously the maximum was 10,000 Euro
  • Maximum amount any lender can invest in the marketplace is raised to 100,000 Euro (previously 25,000 Euro)
  • Loan terms are now selectable 36 or 60 months (previously only 36 months); the insurance pools (Anleger-Pools) are seperated by credit grade and term. This complicated construct will influence lenders when deciding to bid on loans that are otherwise comparable but differ in loan term, since the level reached in the insurance pools directly impacts each payment rate.
  • Bad debt sales rates have been lowered for lower credit grades (previously it was 22.5% to 25%, now it is 15% to 25% depending on credit grade)

(Source: P2P-Kredite.com)

Since it's launch in February 2007 Smava has funded 457 loans with 2 million Euro (approx 3.14 million US$) loan volume. 8 loans have defaulted and currently 9 loans are late.