Jackeline

Thank you for your loan. It has been disbursed to Jackeline by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 4 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Note: The English translation of the loan description incorrectly said that Jackeline was 20 years old. As the original Spanish version and my interview confirmed, she is actually 29 years old; we apologize for the apparent typo.

Jackeline Sanchez runs two businesses in the eastern suburb of Lima, Peru, named San Juan de Lurigancho. She has used your loan to support each of them; for her beauty products business she bought a stock in order to sell them later, while for her ambulatory restaurant she bought ingredients necessary for her daily menus. Jackeline has two children – ages 10 and 8 years – and she says that most of her work is done for the sake of her children. Mrs Sanchez balances risk with opportunity for profit when deciding how to run her businesses. Competition is fierce in her two chosen fields and the negative effect of the recent economic crisis on the wallets of average Peruvians has made Jackeline have to work even harder. She knows that there is a limit to productivity in both fields and that at some point capital is what is necessary to make the next step. With this knowledge, she is grateful for the access to credit that your loans have given her. Thank you for extending credit to Mrs. Jackeline Sanchez and her businesses.

If you would like to support other clients of EDAPROSPO currently fundraising on Kiva, please click here.

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.