Banco Pérola
is a Credit OSCIP which has as its product - microcredit for YOUTH between the
ages of 18 and 29 from lower-middle and lower class families coming from social
organizations.
Banco Pérola was born in 2008 when, during a project done by Projeto
Pérola, a social organization of Sorocaba, São Paulo state, it
was realized that many of the youth had entrepreneurial characteristics, but
lacked the financing to make their dreams come true – even though Projeto
Pérola helps prepare these youth for life, giving them skills which will
help them, it does not provide financial support.
It was with this in mind that two main strategies were vital in the creation
of Banco Pérola: YOUTH and the filtering of the client base. Youth coming
from social organizations, starting with Projeto Pérola in Sorocaba which
attends 50.000 people that fit the age group of the target market of Banco Pérola,
of which 19.920 portray entrepreneurial characteristics and 14.778 are looking
to open their own business.
Besides the impressive number of youth that want to open their own business
or who have already started their own. Another impressive characteristic vital
to the success of Banco Pérola was identified during a survey.
The question: ‘Who would like to open their own business?’
a) In a social organization environment.
b) In a conventional business environment.
74% answered (a) while the number that responded (b) was Just 32%.
Therefore it can be seen that a favorable environment for this product is achieved
with greater ease when the youth has a background in a social organization which
has passed on ideas of good citizenship and human development.
The credit financing capacity of Banco Pérola, together with the expertise
of Projeto Pérola in forming youngsters into active members of society
form a formidable alliance. This methodology can, at first, be expanded to 11
inner state cities in São Paulo covering 42 units strategically placed
on the outskirts (poorer neighborhoods) of these cities, starting with Projeto
Pérola and moving on to other organizations with similar backgrounds.
Banco Pérola will work with three forms of microcredit: Working Capital,
Investment and Mixed all with a rate of 4% a month with timeframe that varies
between 7 and 10 months for the completion of repayment of the first loan. When
compared with the competition in Sorocaba Banco Pérola has the competitive
edge: experience and methodology in working with the youth and it is the only
organization/institution that offers microcredit focused on this market, without
taking into account the comparatively lower interest rates of Banco Pérola.
Going further, the only microcredit organization in the region is located in
the city centre, a fair distance from our target market as well as that it is
required that the client provide proof of work experience, technical diplomas/degrees
as well as proof of income – requests that many youth cannot fulfill.
The product spawns and encourages social inclusion; microcredit encourages enterprises,
local development and reduction of poverty through an increase in income and
through the inclusion of the youth, not to mention an improved self-esteem of
the clients.
WHO CAN BORROW?
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The following are the conditions of access to Microcredit as offered by Banco
Pérola:
• Be between 18 and 29 years of age
• Be enrolled in or completed secondary education, or make the commitment
to enroll in some educational institution
• Be a youth coming from a social organization who demonstrates entrepreneurial
behavior and have moral values aligned with those of the organization
• Have a business or an idea/project which has the objective of the creation
of income
• Present payment conditions
• Develop a project that is not considered illegal
• Develop a project which does not damage the environment
• Develop a project in hygienic conditions
The youth who fits this profile should strive towards forming a group of people
from the community who share his/her interest and who can benefit from microcredit
(between 3 and 5 people). This group is called the Solidarity Group, and the
members can be from different areas of activity where all can count on the support,
assistance and trust of Banco Pérola.
In order
to participate in the Solidarity Group the youth must fulfill the following:
• Choose the people who will participate in the group with them, as long
as they are not immediate relatives and do not have any links through income.
• It is important that the youth chooses people with whom he shares a
good relationship and in whom he trusts.
• Have a business or the willingness to start one.
• The loans must have similar monetary values and time frames.
• Within the Solidarity Group the businesses should, preferably, be from
different segments.
• In terms of a company only one person can assume responsibility for
the credit.
• It is of the youth’s best interest to involve his/her family as
a form of support for his business.
With the formation of the group a new player emerges - the OPPORTUNITY AGENT
– he/she is the professional responsible for managing the account and
moreover for offering entrepreneurial advice and orientation to the loan-holder,
the AGENT will also visit the enterprises of each of the members of the group
aiming to integrate the members and the agent, as well as assessing the socioeconomic
sustainability of the enterprise.
SOLIDARITY GUARANTEE
The service
is quick and without the usual bureaucracy, it is not necessary to provide proof
of income, however, it is necessary that the youth demonstrates the capacity
to pay through the information given to Opportunity Agent which is different
from formally proving your income.
Each member
of the SOLIDARITY AGREEMENT will receive their individual monthly bill regarding
the monthly installments.
There is no need for a guarantor; however a SOLIDARITY AGREEMENT is used - where
all honorably commit to cover the entire payment, in other words, when one doesn’t
pay the group covers that part.
If the youth has pendant credit or low credit ratings, this will not impede
his/her access to microcredit provided by Banco Pérola.
LOAN VALUE
• Minimum amount: R$ 50,00 (fifty reals).
• Maximum amount: R$ 5.000,00 (five thousand reals).
The youth may choose to increase the amount gradually as long as the former
loans are paid through earnings brought about by improvements in the business
model.
INTEREST RATES
The interest rate to be used is 4% per month. Loan Opening Rate [Taxa de Abertura
de Crédito (TAC)] varies between 1% and 3%, depending on the timeframe
of the loan, divided and included in the monthly installments.
• TAC of 1% over the amount loaned, for operations of 30 days or less.
• TAC of up to 2% over the amount loaned, for operations from 31 to 119
days.
• TAC of 3% over the amount loaned, for operations from 120 days and over.
TAC = Taxa de abertura de Crédito (Loan Opening Rate)
FORMS OF PAYMENT
The payment
of the installments can be made weekly, fortnightly or monthly depending on
the evaluation of each enterprise.
The deadline
for payment will vary between 8 and 28 weeks, 4 and 14 fortnights or 2 and 7
months.
MAIN AIM
OF THE CREDIT
• Creation of sustainable businesses
• Enterprise development
• Local development
• Reduction in poverty with an increase in income and the inclusion of
the youth
• Elevation in public’s self-esteem
• Development of protagonism
PRODUCT
1. Working Capital – destined for the purchase of goods, raw materials
and other costs
2. Fixed Capital – destined for the acquisition, repair and maintenance
of tools, equipment and utility vehicles. Improvement or expansion of the enterprises
physical
3. Mixed Capital – destined for both the expansion of working capital
and fixed capital
PARTNERS
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CONTACT
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