Description
Want a short-term no-interest loan?
Tanda can make that happen. With Tanda a group of friends or family members can collectively join to save money (weekly, monthly, yearly) in order to help one another financially. Members of Tanda can create rules among their own groups. For instance, members select an amount of money and number of people in the group. Then they choose whether they would like to do a weekly, monthly, or yearly collective payment. The final step is to select the order of the members in the group who will receive the money. For example, a Tanda is formed between ten friends. Each member gives $100 every week to the group’s organizer. By the end of the ten weeks each participant should of received the “pot” $1000. This continues until each member has received the pot. Tandas are formed for various reasons such as to pay off a debt when money is tight or when an emergency arises. The beautiful aspect of Tanda is that its all confined within the group and there are no financial obligations!