It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Caribbean immigrants pool their money in susu funds, using an old tradition to start new businesses or buy a car without getting a bank loan. When Andrew Morris decided to open Sam’s Caribbean Marketplace in West Hempstead, Nassau County, in 1993, he went to a bank to apply for a loan. But the bank would only loan him $50,000, half of what he needed to start his first business. To make up the difference, Morris turned to his local susu, an informal savings club scheme popular in the Caribbean.
reply to post by Spider879
Sounds interesting. The man in your avatar looks like he may be able to give me a loan hehe...
There are matters of security of course... What happens when a Susu gets robbed? Is there a vault?
originally posted by: 3n19m470
I'm glad I returned to learn about the man in your previous avatar. Always interested in gangsters, rebels, outlaws ever since I was a child. It's a shame that nobody else commented here on what could be for all we know, a real solution. Looks like you've gathered a few flags at least.
Eta- sometimes when it's a busy week or at times people are more interested in more sensational topics so the real nuts and bolts solutions go unnoticed. Maybe one day this flaw can be addressed and corrected. Maybe when the right solution comes along it also needs the right marketing package to go along with it. What that would be I do not know. Also it seems people don't want to trust each other but by habit they choose to put their trust in some type of authority, even though the authorities have proven to be the biggest thieves of all...