Daddy’s money
The banks were not the only source of loans. Many loans were made within the family. The person who needed to borrow money went to a relative or acquaintance. There were also more professional lenders. Today they would be called informal moneylenders. These were private individuals who had excess money from their companies, or had perhaps received an inheritance, which they used as loan capital.
An informal economy does not necessarily mean that something is suspicious or illegal. Instead, it is about solving problems when the official structure does not work. The informal lending market was also governed by clear regulations.
In the 1800s women were not considered to be legal adults. They were restricted to doing specific jobs and not allowed to manage their own money. So said the law, at least, but reality was a different matter. In the informal banking system women could both borrow and lend money. One of the youngest to do so was Alma Sofia Andersson, who died only 19 years old. She lent what can be called microloans, because she only lent small amounts.
Elsa Brita Björlin was another informal banker who mostly lent small amounts, for instance to soldiers, seafarers and farmers.