Another good example of using the internet to empower people in a useful way. eBay is to be congratulated!
Onésimo Alvarez-Moro
See Press Release:
New Service Allows U.S. Consumers to Invest in Microfinance with as Little as $100
MicroPlace, a wholly-owned subsidiary of eBay Inc., today announced the launch of a new website (www.microplace.com) that provides an easy way for everyday people to invest in the world’s working poor by leveraging the power of microfinance, a proven solution to alleviate global poverty.
With the launch of MicroPlace.com, for the first time, consumers in the U.S. can use the internet to make microfinance investments that can provide a financial return while also addressing global poverty. Additionally, MicroPlace’s unique business model was designed to create a self-sustaining marketplace to serve as an efficient and scalable way for capital to flow into the microfinance industry.
“In the past, microfinance investing has generally been pursued by large financial institutions or high-net-worth individuals, and has been less accessible for most people,” said Tracey Pettengill Turner, Founder and General Manager of MicroPlace. “MicroPlace now offers an easy way for the everyday investor to participate in microfinance; the opportunity to receive a return on their investment; and empower the world’s working poor to lift themselves from poverty.”
Through MicroPlace’s secure platform, everyday people can purchase investments – for as little as $100 – from microfinance security issuers. MicroPlace also enables investors to direct the impact of their investment to a specific country and microfinance institution in the developing world. The microfinance institutions use the funds to make small loans to the working poor, who in turn use the loans to start or expand small businesses and lift themselves out of poverty.
At launch, MicroPlace will offer the ability to direct investments to Africa, Eurasia, Latin America and Southeast Asia. Individuals can visit www.microplace.com to research investment opportunities, make investments, and learn more about microfinance and global poverty. Investments can be purchased using PayPal or a checking account at a U.S. bank. As a broker-dealer registered with the SEC and a member of FINRA (formerly NASD), MicroPlace is currently the only broker-dealer specializing in microfinance securities for retail investors.
See full Press Release
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