Blanca Rosa

Thank you for your loan. It has been disbursed to Blanca Rosa by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 5 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Blanca Espinoza Goycochea runs a day care of sorts (it runs from 7.30am until 8.30pm, so a whole-day care is a better term) for kids in her neighborhood in the city of Comas, a northern suburb of Lima, Peru. Her neighborhood is the same one that is mentioned in a post on the Kiva Fellows Blog entitled “Formal Trust, Informal Love” (link is here). Blanca currently cares for four children but hopes to expand to care for three or four more in the near future. Her business began when, six years ago, she was playing in the street with her nephew. A woman on her way to work and worried about leaving her child asked Blanca if she could care for him while she was working. Blanca agreed and thus began her nursery. The boy is now 14 years old and still visits Blanca at her home. Mrs. Espinoza Goycochea not only watches after the four children (which in and of itself is a difficult job), she also cooks them breakfast and lunch and prepares a snack and milk in the late afternoon for them. She says that she has opened her child-care center in order to make enough money to pay the university fees for her son. Her dream is for her son to finish his studies and become a professional. The man pictured in the update is the father of the boy in the white shirt and the girl holding the photo (her name is Sofia). He is a teacher at the local K-12 and told me he has been very satisfied and grateful for Blanca’s work. Thank you for your loan in supporting this child-care business and thus becoming a small part of the community that inhabits Buenos Aires Street in Comas.

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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.