Forget the name for it, but there is community based loan concept where everyone pitches in a little money to give one individual a loan based on luck of the dr

Forget the name for it, but there is community based loan concept where everyone pitches in a little money to give one individual a loan based on luck of the draw with the pretext that in future prior past contributors have better odds of winning. Needless to say, frequently is a scam. EDIT: Here are examples: https://www.google.com/search?q=site:wikipedia.org+informal+loan+club https://www.google.com/search?q=site:wikipedia.org+informal+...