Anyone used it yet? Any thoughts on it? I like donating to charity and I like the idea of microinvestment AND I like what some of the actual microinvesting organizations are doing in impovershed countries...and I've donated to organizations that do microinvesting but this is new to me...the idea of actually investing and getting some sort of return. Anyway, anyone used it? I was a bit put off that it's owned/operated by ebay, but that seems to be a benefit since the only other company really doing this had to register as a non profit due to the cost of the paperwork/processing to becoming an investment "firm" or whathave you so they don't offer any return on the investments (while the idea of getting something back on what is essentially a charitable donation is still appealing, I like the idea of putting some of my money I have set aside for investment purposes into something with a return so that I don't feel so guilty pulling it out of savings or whatever).
The rates are low, but the rates everywhere are low, and some of the options have a higher rate of return than most CDs but I've no idea if they usually work out that way.
Bleh, anyway, back to the original question, anyone have any experience with Microplace?
I'm at least throwing in $20 for a free scarf...they usually cost more than that anyway.
Nexa
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“It has always been the prerogative of children and half-wits to point out that the emperor has no clothes. But a half-wit remains a half-wit, and the emperor remains an emperor.â€
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
I'm seeing some loans with up to 5/6% interest and 98-99% repayment.
Obviously, this will require more in depth research, but it does look like an interesting business model.
Obviously, this will require more in depth research, but it does look like an interesting business model.
Just as Planned.
Hubby and I have done this through Kiva.
You can get repaid from the entrepreneur, but we've donated our repayments back to Kiva for their operational costs.
You can get repaid from the entrepreneur, but we've donated our repayments back to Kiva for their operational costs.
Thumbelyna Quick Hands wrote:
Hubby and I have done this through Kiva.
You can get repaid from the entrepreneur, but we've donated our repayments back to Kiva for their operational costs.
You can get repaid from the entrepreneur, but we've donated our repayments back to Kiva for their operational costs.
Right, and that's the other one I mentioned (though not by name). Kiva had to register as a non profit so their business model doesn't allow you to make any money on your investment, just hopefully to get it all back. Microplace allows you to possible get your money back with interest which is why I was contemplating as a possible alternative to a CD or something.
Nexa
“It has always been the prerogative of children and half-wits to point out that the emperor has no clothes. But a half-wit remains a half-wit, and the emperor remains an emperor.â€
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
Yeah, we need the tax deduction.
Interesting. Think I'll send this link off to my kids. They can invest and get me a mother's day scarf:)
Alma wrote:
I lost my post
Yeah CD rates when I checked recently were about 1.5%, hardly worth it.
From a strictly financial viewpoint, the returns don't justify the risk. Returns of 3% should approach 0% risk to be justified, even given the current economic conditions. There are 12 month CD's at 3% or close to it with zero risk. Micro lending is a great idea, paying eBay to make micro loans for you while you assume all risk probably isn't.
:(
:(
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What about paying $20 for a scarf when you might get more than $20 back?
I can understand from just a financial investment standpoint that it's not as wise a decision as a CD, but from the position of doing this as an alternative to charitable donation...hell, all I have to lose is my donation.
I'm getting that scarf, bite me.
Nexa
I can understand from just a financial investment standpoint that it's not as wise a decision as a CD, but from the position of doing this as an alternative to charitable donation...hell, all I have to lose is my donation.
I'm getting that scarf, bite me.
Nexa
“It has always been the prerogative of children and half-wits to point out that the emperor has no clothes. But a half-wit remains a half-wit, and the emperor remains an emperor.â€
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
What about paying $20 for a scarf when you might get more than $20 back?
I can understand from just a financial investment standpoint that it's not as wise a decision as a CD, but from the position of doing this as an alternative to charitable donation...hell, all I have to lose is my donation.
I'm getting that scarf, bite me.
So long as you view it as a donation where you might get repaid with a small amount of interest, that's fine.
"Repayments have historically averaged 97%" is an abject lie and refers to data for micro lending entire, not the site in question. The very likely reality is that repayment rates for this service are far lower. Let's assume it were true, however. If I make 100 $100 loans at 3% and 97 are repaid with interest and 3 are never repaid, where does that leave me? With a $9 loss. The real risk is that even if the 97% rate were accurate, that even a small amount of statistical variance towards default could be a nightmare. Not to mention changes in market conditions leading to a drop in the mean default rate (say if we were entering a downturn in the global economy for instance....). For this to be a good idea, given the likely real default rate in the current market, you'd want to see returns of, at the very least, around 11%.
Do get the scarf, though. :)
Disclaimer:
To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.
To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.
Smasharoo wrote:
Do get the scarf, though. :)
Oh I will. I may get five or six. You can never have too many scarves just before summer.
Nexa
“It has always been the prerogative of children and half-wits to point out that the emperor has no clothes. But a half-wit remains a half-wit, and the emperor remains an emperor.â€
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
― Neil Gaiman, The Sandman, Vol. 9: The Kindly Ones
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