In the past, people lent credit by attending meetings and contributing a specific amount of money weekly or as agreed upon by the members and leaders. Lending credit was determined by their credit scores and having a “shortee,” as they call it, to stand in for you or a collateral. When you default, they bear the consequences or no return of collateral. Traditional Banks also rely on collateral requirements and credit scores to assess borrowers' reliability. These systems, while familiar, are ...