Earn up to 6% on Microplace Loans

by Andy Hough on March 13, 2009 · 2 comments

MicroPlace is a social business owned by eBay. They offer to alleviate global poverty by offering investments that enable loans to hardworking poor people. You can make loans for as little as $20 that pay up to 6%. You are actually buying notes rather than directly making notes. They are registered with the SEC. To invest you need to open a brokerage account and you can fund your account via your bank or PayPal.

They report a 96% historical repayment rate. I’d still view this more as a potential charitable donation rather than a place to make money. If all of your loans are paid back then you can turn around and lend more money.

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{ 2 comments }

1 BloggingBanks March 14, 2009 at 8:37 am

If 96% of loans are repaid and you make 6%, then you are better off in a FDIC 1 year CD yielding 3%.

Best Regards,

Blogging Banks

2 Andy Hough March 14, 2009 at 7:12 pm

That is one reason why I stated it was best to look at this as charity.

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