A lending circle is where a group of people lend each other money with no interest or fees each month.
The informal lending system, practiced by communities all over the world, is now being recognized by traditional financial institutions. Each payment made into a lending circle acts as payment towards a future loan, providing individuals with the unique opportunity to build their credit.
The Latino Economic Development Center (LEDC) is starting a lending circle for community members to build their credit. For more information, please call (202) 540-7401.