MicroPlace helps change the world a little bit at a time
MicroPlace says their mission is to help alleviate global poverty by enabling everyday people to make investments in the world’s working poor. It allows customers to purchase investments on MicroPlace from security issuers. The security issuers use the funds to support loans to lending borrowers. Borrowers use the loans for their small businesses. Their profits help repay their loans and also go to help improve their families living conditions.
Tracey Pettengill Turner was inspired to start MicroPlace when she returned to the United States from Dhaka, Bangladesh with the belief that microfinance could be a powerful tool to alleviate world poverty. She loved that microfinance combined capitalism, human dignity, and hard work. In 2006 MicroPlace partnered with eBay who believed MicroPlace could be an opportunity to but their assets to work in a way that could change the world.
Currently, MicroPlace has a project called “Small Change Big Change” It encourages people to invest $500 into the company. In exchange, they can win a hand-crafted piggy bank with $100 in small change. $100 is all it takes for a poor person to start a business and work their way out of poverty.
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