"Francine is 28 years old, has two children and managed to get a scholarship from the government so she's currently studying in college.
Francine needs an income to help raise her children but as she has very little time she can't find a fixed job. She therefore plans to use this loan to buy materials (baskets, mugs, sweets, bread, flours and stuffed teddy bears) to produce breakfast baskets to sell to her neighbours and at college."
About Banco Pérola:
Banco Pérola joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.
This loan is administered by Kiva partner Banco Pérola, a non-profit organization that aims to contribute to social change in Brazil through the financial inclusion of young entrepreneurs. Banco Pérola is primarily focused on funding loans to young entrepreneurs (ages 18-35) in the Brazilian state of São Paulo. The organization is an off-shoot of Projeto Pérola, an NGO that offers youths trainings and educational courses on arts, culture, and digital media. Banco Pérola was created after staff observed that the youth served by Projeto Pérola had solid business ideas and the drive to execute them but were unable to fund their ideas due to their lack of credit history or collateral.
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