Myc4 Information

MYC4 is an internet marketplace where you and investors from around the world can lend money directly to entrepreneurs who are doing business in Africa and create growth together with them. That means when the African business makes money as a result of your loan, you can also make money. MYC4 is a business - a business that creates growth - growth created by you. By promoting business potential in Africa, it is possible to trigger long-term positive social impact. Funding speeds up economic growth and prosperity permeates through the lives of entrepreneurs, their families, employees and local community. How does MYC4 work? An African entrepreneur wants to apply for a loan in order to grow his small business. He goes to a local MYC4 partner to present his project, how much money he needs, and how much he can pay in interest. The MYC4 partner makes a thorough evaluation of his business to make sure it provides healthy economic prospects for growth and can repay the loan and its costs. If the loan is approved by the MYC4 partner, it is uploaded to the MYC4 marketplace. You and other investors can now read about the entrepreneur and see his application for funding. There is an auction on MYC4 where you can bid with the amount you wish to lend to the small business and at what interest rate. You do not have to lend the entrepreneur the full amount. Several people can participate in the loan. It is the people who offer the lowest interest rates that end up lending money to the business when the auction is over. When the auction closes, MYC4 transfers the funds to the local partner and the entrepreneur receives his loan. As the business grows, he starts paying back his loan with interest to you. You can now decide whether to withdraw your money or lend it to another small business in Africa. How do I sign up? Go to Sign Up and follow the instructions. It only takes a couple of minutes and you are set to go. How do I get started with lending? Lending through MYC4 is easy and personalized. First you need to create a MYC4 Account and upload money to this account. Secondly, when you have an account with funds to lend, you pick a business to lend to. To see the different Loans that you can choose to lend to, click on LEND in the menu bar and you can view a list of all the Loans that are open for bids. In the bar above the open loans, you can sort the loans by various measures. By clicking on a specific loan, you can read about the business applying for the loans, its targets and goals, plus economy and data of the Business. When you have found a loan that matches your criteria, just click the Lend button and type in your bid amount and your requested interest rate. The bidding is set around the principle of a so-called Dutch Auction, where investors compete to win the bid. What is the minimum I can lend? Getting started - MYC4 encourages bids of all sizes. You can begin bidding with as little as 5 euros. When you feel comfortable with the lending process, then you can choose to increase the size of funds in your Account. Where can I follow the businesses I have lent to? When you have created a MYC4 Account and made your first loan, you can always keep track by going to "My Account". Here you will get an overview of your Account balance, your loans, profits and loss etc. How does MYC4 operate in Africa? The MYC4 platform is built around a network of local providers screening the businesses who would like to obtain a loan and local administrators handling the financial transactions. All businesses interested in obtaining a Loan undergo a thorough investigation process to make sure they provide healthy economic prospects for growth before they are classified as businesses for lending on the MYC4 platform. The due diligence process include a background check of the business to check reputation, track record and whether the business is involved in any other business in conflict with the vision and mission of MYC4. Who can lend through MYC4? MYC4 is for everybody. You can lend to African businesses through MYC4 as a private person, as a group or family, as a company, as a foundation, as a financial institution, etc. Go to Sign Up to get started. If you wish to lend as a foundation or a larger institution please contact info@myc4.com. Who is behind MYC4?