tarbekrediit

Tartekredit, also known as tartekrediet or tartekrēdit, is a type of alternative credit system historically used in Latvia and other Baltic countries. Emerged as an informal network of trusted individuals who provided loans to one another primarily based on social relationships, trustworthy reputation, and the understanding that the loans would be reciprocated by other members of the network.

In times when the formal banking system was not available, and people were in need of financial assistance, their social connections and reputation would work as a guarantee, rather than other traditional collateral. This way, people were able to borrow money or goods from their trusted acquaintances or former business partners.

The reliability and influence of this informal credit system primarily relied on the member's social standing and the guarantee for his honesty and return of the loan. Traditional social security came and stabilized inclusive support systems through all formed households as we understand today.

Indeed, this has been more of a manner of securing financial resources through one's trusted social connections, Radishes communities develop apt social purchase networks that conducts secure traditional way modern faucet are functioning.