| Microloan facts: Kiva, MyC4 and MicroPlace | ||||||||
| Kiva.org | MicroPlace.com | MyC4.com | ||||||
| Launched | November 2005 | Summer 2006 | May 2006 | |||||
| Who can become a lender? | Anyone | U.S. residents only | Anyone; however, North Americans cannot make withdrawals | |||||
| Average interest rate for lenders | Zero | 2 percent | 12.80% | |||||
| Lender can request specific interest rate | No | No | Yes | |||||
| # of borrower countries | 42 | 29 | 6 | |||||
| Value of loans processed so far | $45,714,935 | not available | 4,805,196 Euros | |||||
| # of loans funded | 64,073 | 47 | 2577 | |||||
| Current repayment rate | 98.64% | 100% | 91.30% | |||||
| Current default rate | 1.36% | 0% | 0.72 | |||||
| Current # of borrowers | 310,655 | not available | 2899 | |||||
| Percentage of loans made to women | 77.70% | not available | not available | |||||
| Average size of loan requested by borrower | $458.36 | not available | 1,766 Euros | |||||
| Average amount loaned | $132.37 | $135 | not available | |||||
| Loan duration | 6-12 months | not available | 4-36 months | |||||
| Current # of lenders | 345,200 | not available | 8,378 | |||||
| * As of October 9, 2008 | ||||||||
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.