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General Musing

blaze your trail

Prosper allows loans to fund Kiva projects #microfinance

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Some days ago I tweeted to Prosper, a personal loan marketplace, whether they would allow somebody to take out a personal loan and use it to fun a project on Kiva. The idea came to me after reading a note from somebody on recycling money on Prosper for investment – borrowing at a low rate and lending at a higher rate.

So I thought I should ask Proper about the possibility, they said:

Yes! Just choose “other” on your loan type and explain to potential lenders what you are using the loan for. Thanks 4 asking

Naturally you are responsable for any defaults on the loan, but spreading small amounts round different projects will reduce your risk, while allowing you to make a difference for others even if you yourself don’t have the money to lend.

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Written by Daniël W. Crompton (webhat)

November 24, 2010 at 9:44 pm

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