Thursday, December 6, 2007

microfinancing in SL: a loan to you on *your* conditions.

I've been thinking about the power of trust, and about how Grameen bank functions without any tough measures and has quite high return rate (i.e. people do not run with the money). Looking at my SL balance, which thanks to your tips has risen to around L$3800 (which is a bit too small to throw to the friends at the charity), I got an interesting idea.

I can lend up to 3xL$1000 to those three who come up with the compelling business ideas and whose business plans are convincing enough.

How do we arrange the community pressure ? very simple. I will write the names, the business plans and the terms of the loan (amount and the suggested interest) on this blog.

So, if you are determined enough to rather loan L$1000 than to buy it for three RL bucks, feel free to drop an IM or leave the comment here.

The only restriction is that the time interval is bound by 4 weeks and the returned amount must not be less than the one borrowed :-)

How much you return (i.e. the %% - it's up to you to determine).

Let's see if anything comes up out of this crazy idea...

p.s. and obviously - by sending me an IM, you allow it to be published here.

1 comment:

dandellion Kimban said...

I love your economic experiments. :D