Article
MicroPlace: Microfinance for the Masses
In October 2007, [Tracey Pettengill Turner] and eBay launched the first of its kind MicroPlace, a website where investors can chose to invest in microfinance institutions (MFIs) in specific areas of the world... [U]ntil MicroPlace, it was difficult for individual investors, especially investors with hundreds not thousands of dollars, to become involved with microfinance. MicroPlace raised nearly $500,000 in its first six weeks of operation. That dollar figure translates to more than 8,000 loans to microfinance borrowers around the world... MicroPlace...is a for profit business. All profits, however, eBay promises to reinvest in its social programs like the eBay Foundation. [also refers to Grameen Bank]