Lending Sectors Help Latinas Settle Payments And Spend

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

Alicia Villanueva utilized funds from lending sectors to greatly help develop her company, Alicia’s Tamales Los Mayas.

As an element of its Changing everyday lives of Women series, Morning Edition is checking out ladies and money: saving to their relationship, buying and spending on their own and their loved ones.

Cuban-American Barb Mayo defines a tanda such as this: “It is such as a no-interest loan along with your buddies.” Mayo had never ever heard about tandas growing up, plus it 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 number of Mexican ladies and so they had been like, ‘Hey Barb would you like to perform a tanda?’ And I also ended up being like, ‘What is really a tanda?’ — and it was explained by them in my experience.”

Listed here is a good example of exactly just how a tanda works: Ten buddies, household or co-workers meet up, and every agrees to offer $100 every fourteen days into the group’s organizer. One individual ultimately ends up utilizing the pot that is whole the finish for the thirty days: $2,000. This continues for 10 months until everybody receives the cooking pot.

Everyone else will pay $2,000. Everybody else gets $2,000.

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