August 5, 2013 by apicomely
The best part: profits made from the interest rates paid by borrowers are distributed among group members. Puddle is a response from three of social entrepreneurs that have challenged traditional microfinance and suspect lending practices for more than a decade: Ashoka Fellows Solomon Raydan , Jean Claude Rodriguez-Ferrera and Matt Flannery ( Kiva co-founder and CEO). Raydan, Rodriguez-Ferrera and Flannery are supporting the self-financed movement, inspired by ancient lending practices generically known as Rotating Savings and Credit Associations (ROSCAS). Community groups around the world, though very poor, have proven their capacity to organize and sustain their own savings and credit system without having to go through the formal banking system.
SunTrust to Finance up to $5 Billion of Commercial Mortgages Originated by MetLife
* Management software company Compuware Corp has renewed efforts to sell itself, courting not just the buyers of rival BMC Software Inc but also CA Technologies Inc and other buyout firms, several people familiar with the matter said. * Sports nutrition beverage company CytoSport, the parent of Muscle Milk, is considering an initial public offering later this year, two sources with knowledge of the matter said on Friday. * Lukoil, Russia’s No.2 crude producer, has its sights set on Iraq’s northern Kirkuk oilfield that straddles the border with the autonomous Kurdish region and is a flashpoint in relations between the two sides, an industry source said on Friday. * Gavilon, which earlier this year sold its grain-trading business, has retained Barclays to help it find a buyer for its remaining energy business in a deal that could fetch around $1 billion, according to two people familiar with the matter.
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