At a business building in San Francisco’s Mission District, a tiny band of people that just met sat thinking the amount of money to offer to one another — between $50 and $200 each month.
1 by 1, a coach motorist, a technology instructor yet others around a table stated “200,” until Jazzel Woods Sr.’s turn arrived up.
“Oooh! You all some high rollers!” stated Woods, 28, a teenager counselor in Oakland who’s struggling to pay for his rent. After some hesitation, he stated: “Yeah, I’m able to offer you 200.”
Woods plus the other Bay region residents are committing to be involved in a system that bridges casual traditional financing techniques — called tandas in Mexico or kye in Korea — using the main-stream system that is financial. Continue reading