Want to Invest in Microlending? eBay now Makes It Easy

Microlending in third world countries is continuing to spread. The loans are given to the poor who want to start their own business and get out of poverty. The amounts of the loan are usually less than $500, and are for terms up to four years. eBay (EBAY) has come out with a new website called MicroPlace, which allows anyone to participate in making loans. It allows you to pick and choose which country you want to invest in and how long you want to lend the money. The interest rate you receive isn't high but any surplus goes into other social initiatives.