Mercedes

Status: Paid Back

$150.00		Loan Request
$150.00		Paid Back

About the Entrepreneur

(For privacy reasons, the Field Partner has requested that last name be undisclosed)

Name:	Mercedes
Location:	Comas, Peru
Activity:	Sewing

About the Loan

Loan Amount:	$150.00
Loan Use:	To have her sewing machine repaired and to purchase fabric
Repayment Term:	9 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Jun 29, 2008
Date Disbursed:	Jul 13, 2008
Date Funded:	Jun 29, 2008
Loan Ended:	Feb 15, 2009

About the Field Partner

Field Partner:

EDAPROSPO

Field Partner Risk Rating:

(Learn more)

Active

22 months

1833

$543,900

2.57%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Peru
Avg Annual Income:	$6,715.00
Currency:	Peru Nuevos Soles (PEN)
Exchange Rate:	2.9540 PEN = 1 USD

Mercedes has been dedicated to sewing for 20 years. She used to sew uniforms for a company. She then started to sew clothing that she gave to her friends, who would sell it at markets.

Currently, her neighbors and her husband's co-workers order clothing from her. Mercedes has three sewing machines, and her daughter helps her with her work.

The loans that she has requested have served her to have her sewing machine repaired and to purchase fabric.

Mercedes would like to keep making clothing, but she would also like to start a business with her daughter. She has thought about starting a detergent store or a restaurant in her house.

Translated from Spanish by Tanya Harper, Kiva volunteer

Mercedes se dedica a la costura desde hace 20 años. Antes cosía los uniformes de una empresa. Luego empezó a coser ropa y se los daba a sus amigas, quienes lo vendían en los mercados.

En la actualidad, sus vecinos y los compañeros de trabajo de su esposo le hacen pedidos de ropa. Mercedes cuenta con tres máquinas de costura. Su hija le ayuda con los trabajos de costura.

Los préstamos que ha solicitado le han servido para mandar a reparar su máquina remalladora y para comprar telas.

A Mercedes le gustaría seguir confeccionando ropa, pero también quisiera poner un negocio con su hija. Ha pensado poner una tienda de detergentes o un restaurante en su casa.

Lenders to this entrepreneur

Theodore
Delta, British Columbia
Canada

Buchanan Family
www.kivafriends.org, Ramsey, NJ
United States

Marsha
Toronto, Ontario
Canada

Yung Joo
Dayton, OH
United States

Anonymous
Woodbridge, NJ
United States

Journal entries for Mercedes

Loan has been disbursed Entrepreneur: Mercedes Location: Comas, Peru Thank you for your loan. It has been disbursed to Mercedes by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 6 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Comas, Peru Jul 14, 2008
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Mercedes 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 Mercedes

Show Advanced

	Expected Repayments	Actual Repayments	Comments
October 2008	$25.00	$25.00	Repayment Received
November 2008	$25.00	$25.00	Repayment Received
December 2008	$25.00	$25.00	Repayment Received
January 2009	$25.00	$25.00	Repayment Received
February 2009	$25.00	$25.00	Repayment Received
March 2009	$25.00	$25.00	Repayment Received