ISO micro-grant platform for local giving

March 14, 2020 12:59 PM

I'm looking for a community focused platform or app that will let many people donate money to a pool that many individuals can then draw from (either as a loan or outright donation). Does this exist already? Similar to micro-loans, but more donation focused.

Wish list:
- Privacy for recipients
- No real administration needed on either end (No one, for instance, deciding who gets the money. If you need it, you can have it.)
- No platform which assumes interest is part of the equation
- Donations as well as loans. Ability for recipient to choose.

Hundy is close, but there's interest and it's only loans. Modest Needs doesn't have a way to filter for local need. Microgrants.net has a few layers of administration. It would be great if "set up a GoFundMe" page was not yet another thing that folks in need must do.

posted by cocoagirl to Technology (2 answers total)

Paypal has the privacy and no interest and no fees (assuming the people who are donating money are doing so with PayPal accounts that are linked to bank accounts). But no way to automate administration, or specify the option to either get a donation or a loan.

Though not a proof of concept for your specific project, writer Shea Serrano has been donating up a storm recently, using Venmo I think.
posted by spamandkimchi at 6:20 PM on March 14, 2020

It seems like a Venmo account (that is not linked to a bank account) with the password available to anyone who needed money would accomplish most of your list. If it's on the recipient to choose whether they need a donation or a loan, you don't need a technical feature to enable loans. They're getting the money either way; if it's a loan, they can just Venmo it back into the pot when they're able to. The only issue would be privacy, anyone who has the password would be able to see where money was sent to.
posted by yeahlikethat at 10:25 PM on March 14, 2020