Margarita Cardozo

Thank you for your loan. It has been disbursed to Margarita Cardozo by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 6 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Con 6 años de puesta su tienda en el barrio donde expende cervezas y gaseosas, la señora Margarita, con sus 52 años, ya no tiene que velar por sus hijos, ya todos mayores y bien emprendidos, por lo que se ha abocado de fondo en su negocio y, más aún, debido a la fuerte competencia interna de las cervezas preponderante en el país. Siendo así la situación, los sueños de la señora Margarita van tomando forma en la medida en que adquiera cierta estabilidad en aras de implementar un local donde pueda vender comida china (chifa) y poder contrarrestar la decreciente venta de cervezas.

Es por ello que la señora Margarita va a necesitar próximamente de 1000 soles, para poder solventar sus gastos, propios de una señora digna de pasar su adultez bajo una óptima calidad de vida. Ella quiere tener mayor capital en pos de invertirlo en cervezas e insumos necesarios para su tienda y aprovechar tan fructífera temporada, como lo es la de las próximas fiestas navideñas.

This update has been provided by a new staff member at EDAPROSPO, Darwin dedicated to their clients on KIVA. As he speaks only Spanish, I suggest using Google Translate or a similar free service to translate this update. If you see only a Kiva symbol, please click it to view a high-quality, up-to-date photo of the entrepreneur.

One quick note, EDAPROSPO is waiting until the end of the loan cycle to provide updates on the entrepreneurs. In this way, they hope that you can gain a better understanding of the social impact of the loan. If you would like to support other currently fundraising loans of EDAPROSPO clients on Kiva, please click here.

During a routine audit of Field Partner EDAPROSPO, Kiva discovered a number of discrepancies between the information posted to the Kiva website and what actually occurred on the ground. Specifically, many loans uploaded to the website before December 2008 contain inaccurate loan amounts, terms and/or loan uses.

This is in violation of Kiva policy, and as such, as soon as we were alerted to a possible violation we placed EDAPROSPO on "pause." After placing them on pause, Kiva proceeded to execute a complete verification of every loan EDAPROSPO posted to the Kiva website; in total we examined 757 loans.

As a result of our audit, we have discovered that 52% of the loans posted to the Kiva website by field partner EDAPROSPO contain data inaccuracies. 98% of these inaccuracies pertain to loans posted to the Kiva website before December 2008, when EDAPROSPO was under a different management team. After significant management turnover at the end of 2008, almost all loans on the Kiva website contain complete and accurate information and these loans comprise only 2% of the total discovered inaccuracies.

You are receiving this email as we wanted to alert you that, after our verification efforts, Kiva cannot confirm that the specific loan you funded was actually disbursed. We can, however, confirm that the person you lent to is an EDAPROSPO borrower. Because EDAPROSPO has decided to guarantee all loans made on Kiva, you have continued to receive repayments on schedule.

Because the new management team has proven that they are committed to providing accurate and transparent information to the Kiva website, and because they have repaid almost all of the inaccurate loans on-time, Kiva has decided to re-open the Kiva-EDAPROSPO relationship. During this new "pilot" phase on Kiva, we will be working closely with the new EDAPROSPO team, including their internal and external auditors, to continually verify new EDAPROSPO loans posted to Kiva, and if we are alerted to any new inaccuracies we will pause their relationship with Kiva and follow-up accordingly.

If you have any questions, please visit Kiva's Help Center at http://www.kiva.org/about/help.