Nancy Neyra Bolaños

Status: Paid Back

$450.00		Loan Request
$450.00		Paid Back

About the Entrepreneur

Name:	Nancy Neyra Bolaños
Location:	Comas, Peru
Activity:	Textiles

About the Loan

Loan Amount:	$450.00
Loan Use:	Buy a new sewing machine.
Repayment Term:	12 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Apr 23, 2008
Date Disbursed:	May 7, 2008
Date Funded:	Apr 23, 2008
Loan Ended:	Mar 16, 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)

For eight years, Nancy made a living selling food. She made Peruvian sweets and light meals that she took from her house to sell to her customers. During that time, she and her daughter were excited by the idea of setting up a workshop to make briefcases and backpacks because they saw that the the business of selling briefcases and backpacks was going very well.

That's how they came, little by little, to making a few and selling them, first at the shop of Nancy's daughter. Once they got enough money to invest in better materials, they began to produce more. And so they've managed to put their products in different places around Lima. Lately, Nancy has also been able to count on the help of another of her daughters and so increase her production. However, the lack of sewing machines has hindered their growth.

Translated from Spanish by Jere Wiseman, Kiva Volunteer

Durante ocho años Nancy estuvo dedicada a la venta de comidas. Preparaba dulces peruanos y comidas ligeras para venderlas afuera de su casa. Luego de este tiempo ella y a su hija se animaron a implementar un taller para la confección de maletines y mochilas. Ya que vieron que el negocio de venta de mochilas y maletines iba muy bien.

Fue así que comenzaron, confeccionado de a pocos y vendiendo, al inicio, en la tienda del hijo de Nancy. Una vez que consiguió el dinero para invertir en mayor cantidad para los materiales, ambas se dedicaron a producir más. De este modo, han logrado colocar sus productos en distintos puntos de venta en Lima. Últimamente Nancy cuenta también con la ayuda de otra hija, gracias a ello han logrado aumentar su producción; sin embargo, la falta de más maquinas no permite que crezca su producción.

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Journal entries for Nancy Neyra Bolaños

Loan has been disbursed Entrepreneur: Nancy Neyra Bolaños Location: Comas, Peru Thank you for your loan. It has been disbursed to Nancy Neyra Bolaños by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 9 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Comas, Peru May 7, 2008
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Nancy Neyra Bolaños Location: Comas, 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 Nancy Neyra Bolaños

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	Expected Repayments	Actual Repayments	Comments
August 2008	$50.00	$50.00	Repayment Received
September 2008	$50.00	$50.00	Repayment Received
October 2008	$50.00	$50.00	Repayment Received
November 2008	$50.00	$50.00	Repayment Received
December 2008	$50.00	$50.00	Repayment Received
January 2009	$50.00	$50.00	Repayment Received
February 2009	$50.00	$50.00	Repayment Received
March 2009	$50.00	$50.00	Repayment Received
April 2009	$50.00	$50.00	Repayment Received