Douglas, 31, is married, has one child, and is a hairdresser, a profession he had a dream of undertaking from the time he was young. He came to Sorocaba and started his business with very little. His business income isn't enough, because he has to do the necessary maintenance and decoration of his shop, that’s why he needs the loan.
With this loan, Douglas will buy furniture and will renovate the beauty salon as well as expand and develop his business to attract more customers.
About Banco Pérola:
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.
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.