Lending Sectors Help Latinas Settle Payments And Spend

Lending Sectors Help Latinas Settle Payments And Spend

Alicia Villanueva utilized funds from lending groups to aid develop her company, Alicia’s Tamales Los Mayas. Sarah Peet/Sarah Peet Photography hide caption

Alicia Villanueva utilized funds from lending groups to assist develop her business, Alicia’s Tamales Los Mayas.

Included in its Changing life of Women series, Morning Edition is checking out ladies and money: saving to their relationship, purchasing and spending on their own and their loved ones.

Cuban-American Barb Mayo defines a tanda similar to this: « It is just like a no-interest loan together with your buddies. » Mayo had never ever heard about tandas growing up, and it also was not that she was introduced to the concept until she started working in sales for a cable company in Southern California.

« we caused a couple of Mexican females and additionally they were like, ‘Hey Barb would you like to perform a tanda?’ And I also ended up being like, ‘What is really a tanda?’ — and they explained it in my opinion. »

Here is a typical example of just exactly exactly how a tanda works: Ten buddies, household or co-workers meet up, and every agrees to provide $100 every a couple of weeks into the team’s organizer. One individual eventually ends up using the entire cooking pot at the conclusion associated with thirty days: $2,000. This goes on for 10 months until money mart loans title loans everyone else receives the cooking pot.

Every person pays $2,000. Every person gets $2,000. They may be called tandas or cundinas, based, in Mexico. Brazilians call them pandeiros; they truly are susus in western Africa in addition to Caribbean, and hui in Asia. Continuer la lecture de « Lending Sectors Help Latinas Settle Payments And Spend »