How to make money with micro loans

How to make money with micro loans

Author: Date of post: 08.07.2017

Whether you're looking for great travel rewards or low annual fees, find the card that's right for you. Sign up for Finance Report by AOL and get everything from consumer news to money tricks delivered directly to your inbox daily!

Subscribe to our other newsletters. All index data provided on a 15 minute delay.

Loans - Bayport Financial ServicesBayport Financial Services

Business Careers Personal Finance Retirement Real Estate My Portfolios Resources Finance Collective. A company that really lets you make direct microloans, no lie window. I used to be a big fan of the microlending nonprofit Kiva.

Then I read how Kiva doesn't really make direct loans. The storytelling method it used to get people to pony up money masked the fact that Kiva wasn't being forthright about how the loans were distributed. So is there any way you can lend directly to a hard-working person, other than handing cash to your neighbor down the street starting a business in his garage? Yes, says this National Geographic-sponsored company.

Novica is a Los Angeles company that lets artisans worldwide sell their work on its Web site. It promises fair trade by not charging artisans any fees and letting them lower or raise prices of their artwork as they see fit. Recently, Novica announced it would help its artists expand their businesses by helping them get access to microloans. Novica tried to connect its artists with everyone from local banks to big lenders but the interest rates charged, even by microlenders, were too high.

So Novica decided to become the financial middleman, and it just launched a Web site for customers to buy artwork and lend money directly to the artists.

Novica says it can guarantee no-interest loans to artists because its overseas offices that already work with them to fulfill customer orders can easily take on the loan-disbursement duties. Like Kiva had done, Novica has photos and stories of artists , reasons why they're asking for loans, and a track on how much money they've raised so far. You can help Peruvian furniture-maker Moises Alvarez buy better drills, or let Juliana Akandas of Ghana get more raw materials to keep on carving her wood masks and sculptures.

how to make money with micro loans

You can put your name and photo up on their page to show what a proud and supportive lender you are. Then after you get your money back, you can buy the artwork you helped them to make. Get the details in Novica's online FAQ.

Instant Payday Loans Online | Cash Advance Online | Fast Cash Loans | Get Cash & Go

I can vouch for the good craftsmanship and customer service of Novica's artists. I recently celebrated my fifth wedding anniversary, and wood is one of the traditional gifts to give. A wood "love sculpture" from Indonesia came to mind and after searching the Web, I came across Novica and this " Loving Embrace " sculpture by Balinese artist Wayan Rendah. I got to read his life story, how his wood sculptures were considered too avant-garde for the local crafts markets so he had to sell his household goods to support his family until joining up with Novica.

Now he has 20 carvers working for him. He's not on Novica's microlending loan list, obviously. But what customer service. My statue was supposed to ship within three to four weeks, but I got in two. It came beautifully wrapped, with a postcard of Bali artwork and a printed description of Balinese wood carving and what my statue means specifically to the artist.

Instead of just buying a nameless piece of artwork, I felt like I was really helping to support an artist, his family, his business and keep a traditional craft going strong. So Valentine's Day is coming up, and Novica has plenty of "Loving Embrace" type sculptures and other romantic gifts.

Buy a piece of artwork or just make a loan.

Micro Jobs

Either way, you'll be supporting your favorite artisan by helping to keep him or her in business. Tags art kiva microlending microloans Novica philanthropy. Credit Card Compare Whether you're looking for great travel rewards or low annual fees, find the card that's right for you. Can't get enough personal finance tips? Watching This Cat Discover He Loves Bananas Is The Best Thing We've Seen All Week.

Mortgage rates just plummeted. Experts Say Rate Hike Inevitable — Lock In Mortgage Rates Now Consumers Rush to Jaw-Dropping Savings Rates Investors: Look No Further, CDs are Back. Their Crimes Were Unspeakable. They Were Also Bogus Valedictorian's Speech Cut Off by Administrators New Earhart Search 'Less a Shot in Dark' Than Any Before. Markets US Globals Currencies. USD per EUR 1.

USD per CHF 0. JPY per USD GBP per USD 1. Google watches you shop when you're not onine.

Microfinance: What It Is And How To Get Involved

Man sues Hershey for underfilling their boxes. Amazon launches wedding shop to compete with Etsy. Vet clinic looking for professional 'cat cuddler'. United Airlines throws man in 'MAGA' hat off plane.

Major fashion retailer is facing a massive threat. Uber admits to underpaying NYC drivers for 2 years. Search The Web Search The Web. Follow us via newsletter. Follow us via RSS. Follow us on mobile.

Rating 4,9 stars - 546 reviews
inserted by FC2 system