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  • Kori
  • Invest in microfinance
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  • With a loan of EUR 400,000 local partner KORI will be able to provide small working capital loans to 1,170 women from peri-urban areas of the city of Lima (Peru).

    12 months
    6 months
    Maturity12 months
    Repayments6 months
      Fully funded in 8 days on 18 January 2023.

      The project

      This is a local currency (LCY) project, which means that the liability of the Investee is in LCY, while the note held by the investors is denominated in EUR. This is possible thanks to the hedging agreement between the Lendahand FX Foundation and The Currency Exchange Fund N.V. (TCX). 



      COOPAC Kori is a savings and lending cooperative that started operations in Arequipa (Peru) in 2013 and is active in the regions of Lima and Arequipa. Kori offers individual and group loans to the MSME sector, where the group loans (named SUMAQ WARMI) are offered to female entrepreneurs that will have to form a group, where the group acts as a guarantor and the individual loans are offered to MSMEs with a stable business and a financing need to increase their working capital or invest in productive assets. Kori is regulated by the Superintendence in Peru and provides savings and takes deposits. 



      We are a formal financial institution, with a focus on financial inclusion, which seeks the progress of people with criteria of efficiency that allows sustainable growth.



      To be agents of change to become the national benchmark for financial inclusion.


      Use of Proceeds / Loan purpose

      The project for the amount of EUR 400,000 will be destined for the placement of credits which I proceed to detail:

      • The financing will be destined to women from peri-urban areas of the city of Lima as working capital.
      • The benefited members belong to the type of microenterprise product of the commerce sector.
      • The total number of benefited members will be 1170 with an average disbursed balance of EUR 350
      • The total of groups are approximately 50

      More information about #of entrepreneurs reached, sectors, type of loans & impact:

      250,000 That's how many women entrepreneurs Lendahand's new portfolio company Kori has supported to grow so far. Cooperative Kori, based in Peru, focuses on the financial growth of people who have their own businesses and offers group loans for women entrepreneurs. 


      Sumaq Warmi 

      Lendahand is proud to add Kori as an investment opportunity to the platform. Specifically their product Sumaq Warmi, Quechuan (an indiginous language in Peru) for Wonderful Woman, which represents Kori's primary focus. To allow female entrepreneurs to grow their business. Mainly active in the informal labor sector, Peruvian women lack access to the financial system. Kori brings borrowers together by offering group loans and goes the extra mile to motivate them to empower each other by organizing encounters and group activities. Since Covid-19, the women send each other introduction videos and hold online group meetings.


      Spurring small businesses

      Entrepreneurship offers the surest path to prosperity in many parts of the world, but people living in remote areas - especially women - often lack access to business training. Kori accompanies their borrowers, having a business analyst guiding them to open both a bank and savings account.

      According to the Peruvian government, 1.5 million micro and small enterprises throughout the country are led by women. Most of these female entrepreneurs started out of necessity; since their salary is not enough, they are unemployed or decided to look for a new step in their career. Previously, we wrote how the world's GDP would grow if more women participated in the labor force and which barriers they face. These obstacles are no different in Peru. Women are still more likely than men to hold the primary responsibility of unpaid work and caregiving within the home. They spend close to 40 hours per week on unpaid household activities, keeping them from economic advancement. Another barrier they continue to face, which is similar throughout the globe, is the lack of financing options. Through initiatives such as Sumaq Warmi, Kori enables opportunities for women and their families to keep growing.


      The next generation

      Compared to the 49% global labor force participation rate of women, Peru surpasses that average with 69%. Peruvian women are also intricately linked to our global economy and can break down barriers for women worldwide. By taking a step toward building and growing their businesses - be it formal or informal, small or medium - and getting access to funding, they empower the next generation of women in their country to do the same.


      Company nameKori
      CEOJavier Ernesto Valencia
      SectorWholesale / Retail
      Credit scoreA


      In Peru, 1.5 million micro and small enterprises are women-led. Mainly active in the informal labor sector, the most significant need of these female entrepreneurs is access to the financial system.

      Providing female entrepreneurs with suitable financing options helps them overcome those barriers that keep them from starting or growing their businesses. Specific loan features that appeal to the typical female SME owner are longer-term loans, lower interest rates, alternative collateral, and repayment grace periods.

      Cooperativa Kori focuses on supporting the growth of female entrepreneurs in Peru by offering them group loans. They bring female borrowers together and organize meetings to empower each other. Kori offers their clients business training, assists them with setting up savings accounts, and more.

      Research shows that women in emerging markets invest 90 cents of each extra dollar they earn in their families and immediate environments. This translates into better schooling, healthcare, and overall lifestyle, and eventually economic growth.


      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1 - No Poverty

      SDG 5 - Gender equality

      SDG 8 - Decent work and economic growth

      SDG 10 - Reduced inequalities

      Read more about the impact you can make through our platform and the SDGs on our impact page.


      Related blog posts

      • Read the introduction of Kori as a new investment opportunity here
      • Female entrepreneurs are essential for a powerful economy. Read why here.
      • Want to learn more about gender lens investing? Click here.
      • Want to learn more about how financial inclusion can thrive entrepreneurship? Read here.
      • Wondering which other microfinance institutions we have in our portfolio? Check them out here.
      • With this investment 50 jobs are created
      • With this investment 1170 lives are improved

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