With the United States’ economy flirting with the word “recession”, people are looking to get out of debt. Banks aren’t always eager to give out loans for things like paying off a credit card, and this situation has given rise to social lending. Some sites let you collect interest as the lender, and some simply give you the opportunity to help someone out. If you’re interested in lending money online, we’ve got five such services for you to look at.
Kiva.org - This site is strictly for lending to entrepreneurs in developing countries such as Nicaragua an Uganda. All loans are handled through microfinancing companies that handle all of the funds moving back and forth. There is no interest earned on these loans, but it does help people just starting out with their businesses.
Wednesday, April 9, 2008
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