Since its inception as a way to expose new lines of credits outside of traditional bank loans, microfinance has evolved with the ages. Seeded by the Grameen Bank, industry trailblazers like Kiva and Prosper applied the concept of microlending to the Internet, spawning people-to-people lending. The newest breed of microfinance — crowdfunding — is fast growing in popularity. In this infographic, we take a closer look at how crowdfunding works and how viable it is. Click the infographic for an enlarged view.
Infographic by Column Five.
Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.
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