Rita Bardales

Thank you for your loan. It has been disbursed to Rita Bardales by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 7 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Mrs. Rita Bardales is an entrepreneur operating a bodega out of her house in Los Olivos, a northern suburb of Lima, Peru. She used your loan to buy more merchandise for her fledgling store. She has run her bodega for 6 years, selling sodas and snacks to her neighbors from 6am to 10pm everyday. She makes about 30 soles in profits each day and says that sodas are the most profitable of her goods. Rita has five children – ages 25, 24, 20, 15, and 14- but only the youngest three live with her. After your loan, she has decided to take a short break and move to a new area of town after 15 years of living in her current house. She told me that her street now does not have much foot traffic so she is moving in the next few weeks to a new house on a busier street. Thank you for your credit which allowed her to build up capital more quickly and tide her over for the brief break in business that will accompany her move to a new house.

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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.