Loans to individuals and village banks
Choose a project on our Homepage, register and make a philanthropic loan.
By receiving the signed copy of the Agreement in your e-mail, you have entered into the contractual relationship with the partner organization or individual. However, please note that provisions relating to the actual granting of the Loan are ineffective until the Loan amount has been credited to the account of the Marketing Agent myELEN.com.
myELEN.com collects loans from the public and send them to field partners approximately twice a month. The pooling mechanism reduces transaction costs which are at the cost of myELEN.com and its partner organizations as well as the exchange rate risk.
In case of partner organization, the chosen organization disburses loans to particular entrepreneurs, they develop their businesses and at the end of the interest period (usually 12 months) repay the loan with interest.
The field partner transfers the funds to the account of myELEN.com that transfers the principal and the interest directly to your bank account.
myELEN.com is remunerated in form of fees as a Marketing Agent by the field partners.
As a thank you, you will receive a microfinancial certificate that demonstrates to your colleagues, friends and family your support to poor people and regions.
Membership in cooperatives, Saving with cooperatives