MicroPlace, a new micro-financing site backed by eBay, aims to help microfinancing companies around the world grow and thrive. The idea is simple:
“Microfinance institutions around the world have discovered an effective way to help the world’s working poor lift themselves out of poverty. These organizations need capital to expand and reach more of the working poor. At the same time, millions of everyday people here in the United States are looking for ways to make investments that yield a financial return while making a positive impact on the world. MicroPlace simply connects investors with microfinance institutions looking for funds.
The result: more microfinance in the world, satisfied investors, and above all, fewer people living in poverty.”
Brilliant. MicroPlace doesn’t intend to compete with sites like Kiva, it wants to help sites like Kiva flourish by providing one venue through which potential investors can view and select microfinancing opportunities. Sort of like how eBay connects buyers and sellers. We like it. It’s a good thing.