Mercedes Sosa Chero

Status: Paid Back

$1,200.00		Loan Request
$1,200.00		Paid Back

About the Entrepreneur

Name:	Mercedes Sosa Chero
Location:	Los Olivos, Peru
Activity:	Restaurant

About the Loan

Loan Amount:	$1,200.00
Loan Use:	Improve her restaurant space
Repayment Term:	14 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Apr 9, 2008
Date Disbursed:	Apr 30, 2008
Date Funded:	Apr 16, 2008
Loan Ended:	May 29, 2009

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:	United States Dollars (USD)

Mercedes, 48 years old, has realized her dream of having a restaurant. She and her husband have worked hard for 7 years at the restaurant, and both work day after day to improve it. Before she was interested in opening a restaurant, Mercedes worked cleaning different homes. She only did this work for small periods of time because she admits that it is very tiring. Nonetheless, she had to work because her husband had lost his job and she had to maintain her home. When they had saved up some money, she and her husband decided to turn a room in their home into a restaurant that they named “Picantería Chero.” Little by little it grew, and today they are still ambitious. They would like to buy better furniture and expand the restaurant. On the other hand, they also rent two washing machines to their neighbors.

Translated from Spanish by Laura Westin, Kiva volunteer.

Mercedes a sus cuarenta y ocho ha sabido hacer realidad su sueño de poder tener un restaurante. Desde hace siete años que manejan con mucho esfuerzo su esposo y ella el negocio, ambos le dedican el día a día al mejoramiento de este. Antes de animarse a abrir su restaurante Mercedes trabajaba ofreciendo servicio de limpieza a distintos hogares. Este trabajo solo lo hacia por pequeñas temporadas porque nos afirma que es muy cansado; sin embargo, era una obligación, ya que su esposo en ese entonces había perdido su trabajo y tenia que mantener su hogar. Cuando tuvieron algunos ahorros su esposo y ella decidieron ambientar una habitación de su casa para abrir su restaurante “Picantería Chero”. Poco a poco han ido creciendo y hoy en día ambicionan aun más, pues quieren implementar su local con mejores muebles agrandarlo. Por otro lado, ellos también alquilan dos máquinas de lavar ropa a sus vecinos.

Lenders to this entrepreneur

Jonathan

susan
kennewick, WA
United States

Mig
San Francisco, CA
United States

Margaret kivafriends.org
Fairfield County, Connecticut
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Mary
Toronto, Ontario
Canada

Ariyanna
Minneapolis, MN
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Terry
Princeton, NJ
United States

Frances
Brooklyn, NY
United States

Steven
berkeley, CA
United States

Michael
Bellingham, WA
United States

Mason Family
Edmond, OK
United States

Dagmar
Mittenwalde,
Germany

Angels & Gisela Family
Houston, TX
United States

Charlene
Calgary, Alberta
Canada

Anonymous

Jolene
Shoreview, MN
United States

Delphine & Jocelyn
Amsterdam, Noord-Holland
Netherlands

Paul
Chicago, IL
United States

Wendy
RR#1 Centre Burlington, Nova Scotia
Canada

Mark
Scottsdale, AZ
United States

Nirupma
Brighton, MI
United States

Jonathon

Alpine Environmental Services
Albany, New York
United States

Jennie
Metairie, LA
United States

Carol Anne
Elora, Ontario
Canada

Brittany
Yonkers, NY
United States

Jane
Atlanta, GA
United States

Anonymous
Visalia, CA
United States

David
Los Angeles, CA
Afghanistan

Kevin
San Francisco, CA
United States

Joan
Springfield, IL
United States

Journal entries for Mercedes Sosa Chero

Loan has been disbursed Entrepreneur: Mercedes Sosa Chero Location: Los Olivos, Peru Thank you for your loan. It has been disbursed to Mercedes Sosa Chero by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 12 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Los Olivos, Peru Apr 30, 2008
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Mercedes Sosa Chero Location: Los Olivos, 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 Mercedes Sosa Chero

Show Advanced

	Expected Repayments	Actual Repayments	Comments
July 2008	$100.00	$100.00	Repayment Received
August 2008	$100.00	$100.00	Repayment Received
September 2008	$100.00	$100.00	Repayment Received
October 2008	$100.00	$100.00	Repayment Received
November 2008	$100.00	$100.00	Repayment Received
December 2008	$100.00	$100.00	Repayment Received
January 2009	$100.00	$100.00	Repayment Received
February 2009	$100.00	$100.00	Repayment Received
March 2009	$100.00	$100.00	Repayment Received
April 2009	$100.00	$100.00	Repayment Received
May 2009	$100.00	$100.00	Repayment Received
June 2009	$100.00	$100.00	Repayment Received