KOAM TV — Dec 28 — Personalized lending has taken off as the phenomenon of microfinance has grown in scope and stature. With microfinance, a funding organization teams up with local partners to capitalize tiny businesses, often with just a few or no employees. For Ms. Reese, an IBM engineer, the revenue stream from loans she’s made at 0% interest through Kiva isn’t as important as what the payments represent.

They mean her hand-picked business partners — a barber in Uganda, a fish saleswoman in Vietnam, a school principal in Kenya. In February, Prosper debuted with a claim to be America’s “first people-to-people lending marketplace.” In May, LendingClub launched a direct lending site that uses a social-networking database to link lenders with suitable borrowers on the basis of a lender’s preferences and risk tolerance.

Zopa is a for-profit firm that’s been pairing lenders with borrowers in Britain since 2005 and launched its service in the United States earlier this month. Virgin Money in October acquired CircleLending, a six-year-old manager of loans among friends and families. It plans to add more types of loans next year.

Source: http://www.socialnetworkingwatch.com/2007/12/growth-in-socia.html

For more information please visit website Designing and offshore software development