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Posts Tagged ‘MicroPlace’

A Wall Street Journal article today ties back to our Friday post highlighting MicroPlaces’ new Global Poverty Note.  The WSJ piece focuses on some of the big online giving sites, such as Kiva.org, and notes that  “Credit markets world-wide are tight, and charitable donations are down.  But Web sites that specialize in “microlending” — small loans mainly to the working poor — say they’re thriving as they address both issues.”

Our CEO & President, Jane Wales, had an op-ed in the SF Chronicle back in November on this same idea.

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MicroCredit Enterprises and MicroPlace are two organizations that have created innovative financing mechanisms to make lending to the poor more feasible.  Both organizations are based here in Northern California.

Quoted from their own press release:

“Today MicroCredit Enterprises and MicroPlace launched our Global Poverty Alleviation Note.  It is a two-year, 5% interest-bearing note, secured by MicroCredit Enterprises’ Guarantors.

MicroCredit Enterprises and MicroPlace have teamed up to create a web platform so that everyone can do their part to finance sustainable microloans for impoverished women around the world.”

Both MicroCredit Enterprises and MicroPlace were honored at our dinner in November with Nobel Peace Prize winner Muhammad Yunus.

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