Ebay Opens Microfinancing Site.

Loan $100 to an entrepreneur in "developing countries".

Josh says: "Good to see more of these opening up."

http://www.news.com/New-eBay-site-lets-people-finance-worlds-poor/2100-1038_3-6214974.html?tag=nefd.top

***FS***  I was just contemplating making a loan to somebody via prosper.com when it occurred to me that I could build a similar site at personalloans.com and plumb all my loan traffic to that site to kick-start things.  Great times to be a developer/name owner

Comments

[morgan]

http://kiva.org/ is an interesting microlending project

[Alex]

I had an inclination that you used a Prosper type service. I think it is incredible and the wave of the future (today).
If you are wondering what gave it away was a comment you made a while back about PIMCO funds. As far as I'm concerened PIMCO is the best money manager in the world for income securities (muni bonds, corporate bonds, GO's.....)

I spent 10+ years in the finance industry with a focus on web based consumer financial products (i.e markeplaces...). If you want to build/develop that domain we should chat.
I think there is a better way to get into that business without sinking millions into the back end that would be required....

As a matter of fact Sir Richard Branson investment group acquired CircleLending last week.

[passing by]

Kiva.org is an impressive operation. It is mentioned in the comment above and in the article. They have partnerships with local organizations in the countries in which they loan.

I've made 13 micro loans over the past 18 months. So far all the loans are being repaid on schedule.

I think I first heard about Kiva from Jeff Reynolds. An invitation to join is on its way to you Frank, in case you are interested.

[don]

Frank

You could have bought into sub prime lending a few years ago as well... I would be cautious to go into anything that involves the credit industry until you see the dust settle in washington. I would expect you will see much tigher guidelines and regulations coming on alternative lending methods, pay day loans, cash advance loans, etc...they will be the next target after the mortgage issues are resolved.

Developing this name is a must but a broader focus would serve you better. There are very nice margins in all aspects of the finance area and their will continue to be a growing demand for unsecuritized financing as homeowners continue to lose equity and seek other means to access money.

[SmallLoan(s).com]

Hi Frank,

How about SmallLoan(s).com that I own for this kind of an idea? :-)

thanks,

***FS*** Thats a great little name