Assignment - Compare MYC4 and Kiva
Your Assignment for the week will be to compare the two microfinance platforms kiva.org and myc4.com. Your assignment is to outline how the two platforms differ and to select one that you prefer. Argue for why you have selected this website.
My answer:
Kiva and Myc4 both are microfinance platforms that are helping small entrepreneurs who need money on loan. Kiva is non-profit organization, whereas myc4 is a business model where the lender can make some money. Myc4 is working in Africa and Kiva has access to small entrepreneurs in various parts through their field partners. Though, both websites are doing excellent work and provide sufficient details so that you can lend money to entrepreneurs, and it is difficult to choose one over another, I would go with Myc4.
I would go with Myc4 for the reason that it allows you to make some money. Now making money is not your primary goal when you're out there to help people, but this is what makes Myc4 little interesting. The extra money that you get is minimal (just about 2% as mentioned by the Myc4 founder in his interview). But I think it encourages small entrepreneurs to be innovative and use money wisely (encouraging them to grow) so that they can repay it with interest. And since it allows lenders to make some money, it also encourages many lenders to invest money while they are helping people to help themselves.
My answer:
Kiva and Myc4 both are microfinance platforms that are helping small entrepreneurs who need money on loan. Kiva is non-profit organization, whereas myc4 is a business model where the lender can make some money. Myc4 is working in Africa and Kiva has access to small entrepreneurs in various parts through their field partners. Though, both websites are doing excellent work and provide sufficient details so that you can lend money to entrepreneurs, and it is difficult to choose one over another, I would go with Myc4.
I would go with Myc4 for the reason that it allows you to make some money. Now making money is not your primary goal when you're out there to help people, but this is what makes Myc4 little interesting. The extra money that you get is minimal (just about 2% as mentioned by the Myc4 founder in his interview). But I think it encourages small entrepreneurs to be innovative and use money wisely (encouraging them to grow) so that they can repay it with interest. And since it allows lenders to make some money, it also encourages many lenders to invest money while they are helping people to help themselves.
Peer feedback:
Peer 1 → [This area was left blank by the evaluator.]
Peer 2 → Good comparing.
Peer 3 → [This area was left blank by the evaluator.]
Peer 4 → Good job!
Peer 5 → [This area was left blank by the evaluator.]
Effective grade is 2/3.
Peer 2 → Good comparing.
Peer 3 → [This area was left blank by the evaluator.]
Peer 4 → Good job!
Peer 5 → [This area was left blank by the evaluator.]
Effective grade is 2/3.
This blog post is based on my learnings from the course on ‘social entrepreneurship’ offered by Copenhagen Business School through Coursera (2014).
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