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Tommy123
Anmeldedatum: 14.03.2010
Beiträge: 124
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 Verfasst am: 11.03.2015, 09:59 Titel: Re: Zidisha |
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[quote="nobodyofconsequence"]Habt Ihr bei Zidisha das neue Kreditmodell ohne Zinsen mitbekommen?/quote]
Ja, stand im Newsletter vom 6. März. |
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nobodyofconsequence
P2P Legende
Anmeldedatum: 02.09.2007
Beiträge: 5219
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Claus Lehmann
Site Admin
Anmeldedatum: 31.08.2007
Beiträge: 17873
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| Verfasst am: 24.01.2019, 20:13 Titel: Re: Zidisha |
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| Zitat: | Dear Zidisha member,
This message is to inform you that Zidisha is changing its legal structure from nonstock to a stock corporation.
In keeping with our nonprofit statutes and the intent of the donors and volunteers who have supported our nonprofit entity, an amount equivalent to the valuation of the nonprofit at the time of conversion will be donated to a 501(c)(3) charity. An independent valuation is currently underway to determine the amount to be donated.
Our mission remains the same: we are still a social enterprise whose purpose is to connect lenders and borrowers through direct microlending to expand opportunities for entrepreneurs in developing countries. However, this change requires us to relinquish our tax-exempt charity status. I would like to share an explanation of why we made this decision, and how we expect it to impact our community.
Why is Zidisha changing its legal structure?
Since our founding in 2009, our operations have been funded primarily through donations and the 5% service fee borrowers pay for each loan (most of which goes to cover money transfer costs). Since we were incorporated as a nonstock charity, we have not been able to raise equity funding like other startups.
As a result, the organization has been cash-strapped for most of its existence. All of us were volunteers in Zidisha's early years, and even today we can afford only two paid staff. Our incredible team of volunteers has done an amazing job, helping us to respond to member inquiries, process payments and review loan applications. Today, we serve over 300,000 lenders and borrowers around the world and have facilitated over $15 million worth of loans. It is becoming harder and harder for our small team of volunteers to support so many members.
In addition, we are relying more and more on machine learning algorithms and other quantitative systems to manage credit risk. Since we lack the funding to hire experts to do this in house, we have had to build these systems ourselves using automated tools and high-level help from outside advisors. We are not data scientists, and there is much untapped potential for improvement.
We estimate that having full-time credit risk management professionals optimize our systems would substantially improve our ability to reduce default and allocate loans to creditworthy borrowers. The resulting improvement in repayment performance would allow us to reduce credit risk payments for borrowers, and attract more lending capital so that we can fund more entrepreneurs. Restructuring as a stock corporation will allow us to raise the equity capital we need to hire in-house credit management expertise and make other investments in the quality of the platform.
Will this affect the tax deductibility of donations that were made in the past?
No. Any donation made on or before December 31, 2018 was made while we were still a 501(c)(3) nonprofit organization, was used in service of our charitable mission, and continues to be tax-deductible in the United States.
How will this impact lenders?
The only immediate change is that new payments into Impact Investment accounts, and any optional tips made when lending, are no longer tax-deductible. We will continue to offer the same lending account options - withdrawable and growth-enabled Impact Investment accounts - as previously.
In the long term, we expect lenders to benefit from lower default rates as our credit management system improves.
How will this impact borrowers?
The legal structure change has no impact on our lending policies, fee rates or any other policy affecting borrowers. In the long term, we expect borrowers to benefit from lower fee rates as less credit risk payments are needed to offset defaults, and from more abundant lending capital.
As always, we welcome your questions and comments. Please don't hesitate to contact us at team@zidisha.org to discuss further.
Kind regards,
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Meine Investments (aktualisiert 03/22):
Laufend: Bondora*, Investly*, Estateguru*, Ablrate*, Moneything* (Rest), Crowdestate* (Rest), Fellow Finance* (Rest), October* (Rest), Linked Finance*, Lenndy* (Rest), Assetz*, Plenti, Neofinance* (Rest), Lendermarket*,
Beendet: Smava*, Auxmoney*, MyC4, Zidisha, Crosslend*, Lendico*, Omarahee, Lendy*, Bondmason, Finbee*, Bulkestate*, Zlty, Mintos*, Iuvo*, Robocash*, Viainvest*, Viventor*
Crowdinvesting: Seedrs*, Crowdcube, Housers* (Rest), Reinvest24*, Landex* |
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