Really? The killer app here seems to be access to capital on amazing terms.
> They would give each other handshake loans—no collateral, no payment schedule, just pay when you can
> They would give each other handshake loans—no collateral, no payment schedule, just pay when you can
Some Asian immigrant families form a "lending circle" where they choose a member to go 1st, and everyone gives their extra money to that person, and they buy a hotel/restaurant/etc. The circle chooses a 2nd, and everyone gives them spare money - it's a lot faster this time, with the one hotel/restaurant/etc owner paying in a relatively large amount. This goes around until everyone in the group (maybe 12-20 people) has a hotel/restaurant/etc.
My accountant once encouraged me to try to get my family members involved in a business I ran just for that reason.
That’s why rural states give drivers licenses to kids as young as 14 — so they can drive a tractor between fields.
https://en.wikipedia.org/wiki/Hawala
Very difficult to trace and crack by authorities.