Félix Malpartida

Status: Paid Back

$350.00		Loan Request
$350.00		Paid Back

About the Entrepreneur

Name:	Félix Malpartida
Location:	Vitarte, Peru
Activity:	Office Supplies

About the Loan

Loan Amount:	$350.00
Loan Use:	Expand his bookstore
Repayment Term:	8 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Feb 2, 2008
Date Disbursed:	Feb 16, 2008
Date Funded:	Feb 2, 2008
Loan Ended:	Aug 17, 2008

About the Field Partner

Field Partner:

EDAPROSPO

Field Partner Risk Rating:

(Learn more)

Active

22 months

1823

$540,625

2.61%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Peru
Avg Annual Income:	$6,715.00
Currency:	Peru Nuevos Soles (PEN)
Exchange Rate:	2.9300 PEN = 1 USD

Mr. Malpartida opened a bookstore when he retired from the stove manufacturing company he worked at. He has owned his bookstore for over 22 years and thanks to it he has been able to purchase the premises where his business is at and a house nearby. Additionally, he has been able to provide a good education for his four children, who now help him at the bookstore.

Mr. Malpartida has been working with EDAPROSO for the past 7 years. Thanks to the loan he received he was able to buy his first photocopier. He currently has 2.

Mr. Malpartida now wishes to expand his bookstore, he needs 1000 soles ($350) to do so.

Translated from Spanish by Libertad Leal, Kiva volunteer.

Al retirarse de la empresa de fabricación de cocinas donde laboraba, el señor Félix abrió una librería. Ya lleva más de 22 años con este negocio que le permitió comprar el local donde trabaja y una casa cerca de ahí. Además de poder brindarle una buena educación a sus cuatro hijos quienes hoy lo ayudan en la librería.

Desde hace 7 años, Félix trabaja con EDAPROSPO, y gracias al financiamiento que recibió pudo comprar su primera fotocopiadora. Hoy tiene 2.

Félix desearía ampliar su librería para lo que necesitaría 1000 soles.

Lenders to this entrepreneur

Margaret
Lynnwood, WA
United States

Bill
Phenix City, AL
United States

Neil
North Vancouver, BC
Canada

deb & matt
Novato, CA
United States

Julio
Madrid,
Spain

Sue Ann
Morgantown, WV
United States

Diane R
KivaFriends.org, Santa Clara, CA
United States

Carl
Dallas, TX
United States

Journal entries for Félix Malpartida

Loan has been disbursed Entrepreneur: Félix Malpartida Location: Vitarte, Peru Thank you for your loan. It has been disbursed to Félix Malpartida 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.
Posted by from Vitarte, Peru Feb 17, 2008
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Félix Malpartida Location: Vitarte, Peru 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.
Posted by Michelle May Kreger, Kiva Staff, from San Francisco, United States Jul 11, 2009
Comments (30)

Repayment Schedule for Félix Malpartida

Show Advanced

	Expected Repayments	Actual Repayments	Comments
May 2008	$58.33	$59.00	Repayment Received
June 2008	$58.33	$59.00	Repayment Received
July 2008	$58.33	$59.00	Repayment Received
August 2008	$58.33	$59.00	Repayment Received
September 2008	$58.33	$59.00	Repayment Received
October 2008	$58.35	$55.00	Repayment Received