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Wednesday, December 26, 2007

EBay: The Place for Microfinance

EBay: The Place for Microfinance

On the online auction giant's new MicroPlace site, investors can lend as little as $50 to would-be small business owners around the globe

Tracey Pettengill Turner doesn't want to give handouts to poor people. But she does want to make investments in them. So on Oct. 24, Turner is launching, a Web site that lets small investors provide low-interest "micro" loans, of $50 or more, to would-be small business owners. Her hope is to create sustainable economic growth in the world's most impoverished communities—and do her part to expand the reach of the microfinance industry to more than 1 billion people worldwide, from about 100 million people currently.
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