Gisele, 31, has a 13-year-old child and lives in the interior of São Paulo. She has a newsstand in the downtown where she lives and works and in her spare time putting piercing. Gisele recently separated, and so is taking care of her household bills alone.
She worked for many years at a newsstand, but a year and a half ago the owner of the newsstand died and the family decided to close the newsstand. Since Gisele had been working there for a long time and knew how to manage the business, she decided to propose to purchase the newsstand from the family of the deceased owner. They easily decided to sell it to Gisele because she was always very committed and dedicated to her work.
Today Gisele needs money to buy well-known brands of magazines and more books and newspapers to sell.
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.