News

12.01.2010

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Marika Mathieu

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Peer to peer lending is now live!

The loan between individuals, said microcredit "peer to peer" makes its mark on the internet. Something to offer everyone the chance to invest it in a project can socially responsible.

"Peer to peer lending" or project financing micro-entrepreneurs by Internet grows since 2005 and caters to conscientious lender in you.

The web seems to be an ideal vehicle for philosophy advocated by actors microcredit work on concrete situations, so modest but safe, in a spirit of global solidarity. According to Jacques Attali founder PlanetFinance (http://www.planetfinancegroup.org/): "Microfinance can be a solution to the financial crisis because it is based on an ethic that is sorely lacking in conventional finance. Microfinance is also based on the loan proximity, which is a bank of general interest that is not fixated on profit. " (1)

Sites "peer to peer lending" is committed to transparency, guaranteeing the ethical operation. Each user is then able to understand the step-by-step mechanisms, and invest up to his means. Online loans help diversify and increase financial contributions used by MFIs (microfinance institutions) to provide faster credit to those in need.

The basic operation is simple. Each site selects a series of MFIs send back the description of projects awaiting funding. The user can view online credit applications and choose the person to whom he wishes to directly pay a sum of money, which he determines the amount (from 10 euros) for a specified period (usually less than one year).

The fifteen devoted to such sponsorship platforms dedicated to the time the North-South solidarity, but some may soon propose to work in the direction of the North relationship. A draft law on consumer credit has been adopted in France, in order to allow individuals to finance micro-projects in their countries. The FriendsClear.com website (http://www.friendsclear.com/comment-marche-v1) provides on this point a contract and welfare for those who want to lend money to relatives or contractors of their choice without a banking intermediary.

Users can now take the reins of inclusive development. But as we may want to support a project without turning into banker warned, the mechanism based on trust and controls put in place by the Internet platform. It's up to her to ensure the reliability of the selected MFIs and the journey made by the funds. The overall quality and expertise in the field of woven ties are essential to the success of "peer to peer", which is why a site like

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