LDS Cooperative "one heart and one mind...with no poor among us"

www.MyC4.com

MyC4 is a Denmark P2P Banking and Microfinance Web based Organization that stands for "my care for". It's mission is to eradicate poverty through the power of business in support of the United Nations 2015 Millennium Development Goals and Global Compact.

The lender receives higher interest on their loans then KIVA or MICROPLACE making it more of an investment scheme for people that want a return on their money. It is quite new with 3000+ members and growing fast.

We have designed MyC4 to make it easy for you to be in direct contact with businesses you invest in – and vice versa. Transparency and accountability make business relationships personal and meaningful for both parties.

The Bidding Process

MyC4 works through a bidding process similar to Ebay. The bidding process is based on a ’Dutch’ auction which basically means, the more people that are interested in investing, the more favourable the terms (e.g. interest rate) become for the African business. Fair and simple.

The MyC4 site currently in Beta, which basically means they are constantly learning from your feedback and actions and are improving MyC4 with monthly iterations.

They support the United Nations 2015 Millennium Development Goals by hoping to eradicate poverty by 2015.

MyC4 as a company will, when profitable, invest 50% of Earnings After Tax every year in Opportunities that specifically support the goals that are furthest from reach in Africa.

What are the Risks and What does MyC4 do to Ensure my Loan Gets Repaid?
It is a site that is for people that want to see a high return on their investment and are more business minded. On the downside, MyC4 does not actively rate the risk of any given investment at the moment– it is up to the Investors themselves to evaluate the information provided about the individuals. The Investor can ask for guidance from the Provider or fellow Investors. This can be done via their blog or through the MyC4 Forum.

However, it is important to point out each investment opportunity has been through a rigorous screening process before being added to the C4 portfolio. They only work with companies that provide healthy economic prospects for growth in order to be able to repay the loan.

In the future, they plan to introduce a risk assessment system based on a comparison to previous business opportunities/investments. At the moment they scrutinize each lendee.

In the case that an entrepreneur does not fulfill the payback agreement with MyC4, the local Lender will pursue the issue with them in an attempt to resolve any problems.

If the loan continues to be mismanaged by the entrepreneur, MyC4 will inform the Provider (the company in the country who directly uses your money to supply the loan) and the entrepreneur will not be able to obtain any additional loans via MyC4.

All Providers are asked to vouch for their Opportunities, which means that loans not being paid will reflect poorly on the reputation of the Provider.

In certain circumstances the Lender may seek reimbursement in the form of valuables (collateral) instead of money.

This is more of a capitalistic venture then KIVA and Microplace but still helps to empower the poor and provide a high risk return.