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I was on yahoo and skimmed through the article: "8 surprising things to do with $1000", here was #5 on the list:
I've heard of micro-loans to women in African countries, and in India, but Armenia? What is the situation regarding loans in Armenia coming from overseas? Does the "97%" stat hold true for Armenians paying back their loans? How well are we able to target our loans to women trying to start a business venture?
5) Be charitable, make money
Similar to P2P lending, microloans are a great way to give back to those less fortunate, while also earning high interest. Typically, the money is loaned to poor people, usually women, in low-income countries, like Armenia, Bolivia, Cambodia and Indonesia, who are trying to start a new business venture. A little bit of money goes a long way, with average interest rates around five per cent. Of course, like other uninsured investments, there are risks. But historically, 97 per cent of low-income borrowers have paid back their loans, so the odds are in your favour.
Similar to P2P lending, microloans are a great way to give back to those less fortunate, while also earning high interest. Typically, the money is loaned to poor people, usually women, in low-income countries, like Armenia, Bolivia, Cambodia and Indonesia, who are trying to start a new business venture. A little bit of money goes a long way, with average interest rates around five per cent. Of course, like other uninsured investments, there are risks. But historically, 97 per cent of low-income borrowers have paid back their loans, so the odds are in your favour.
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