This reminds me of the early work of Dr. Carlos Velez-Ibañez from the School of Transborder Studies who studied Rotating Credit Associations called "tandas" and how they get utilized by Mexicans and others worldwide in financially difficult straits to not just surviving, but truly getting ahead. For more information, check out this Youtube video.
When you don't have a credit history or collateral, then you rely on that Velez-Ibañez terms, "social credit" that is "scrupulously honest." The trick then is to transform from informal to formal contexts which is what this Austin nonprofit called Just featured below seems to be accomplishing.
This all speaks to the creative, entrepreneurialism—collectivist values, organizational strategies, and ultimately, their social capital to accomplish as a group that which they cannot secure as individuals. Exciting stuff!