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#TalkThursday: Microfinance in the age of social media

Rappler.com

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Rappler speaks to Richard Eldridge, co-founder and COO of Lenddo, a microfinancing group.

MANILA, Philippines – Rappler speaks to Richard Eldridge, co-founder and COO of Lenddo, a microfinancing group.

Lenddo is an online platform which aims to help the middle class use social connections to build credit worth. The first website of its kind, Lenddo uses social media to help neophyte entrepreneurs gain access to financial services. Members of theLenddo community can tap into the reputation they’ve built on their different social networks like Facebook, LinkedIn, and Twitter, to apply for loans. The site is inspired by banking systems where credit was based on the trust.

Lenddo has a growing member base in 5 countries with over ten thousand members.

Eldridge also serves as the director of the British Chamber of Commerce in the Philippines. He is a former director of the European Chamber of Commerce in the country.

Eldridge founded Lenddo with his partner, Jeff Stewart in 2011. Today, Lendo has offices in New York City, Colombia, and the Philippines.

Eldridge will talk to Rappler about his company, and why he thinks the platform will be well received in the Philippines.

Watch the interview below.

– Rappler.com

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