Antonia

Thank you for your loan. It has been disbursed to Antonia 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.

Antonia Chuquihuara lives in Comas, a northern suburb of Lima, Peru, and works as a painter of leather jackets. When a leather garment is marked in any way such as a scratch, people call her to re-dye the leather to cover any imperfections. In an interesting husband/wife combination, Antonia’s husband does a similar type of work painting cars and buses. The loan she received from you via Kiva and EDAPROSPO was used to support both of their businesses. At the time of my interview, Antonia had gone to drop off a newly painted leather coat to one of her clients; therefore, the picture and short video I took is of her husband. The couple has been with EDAPROSPO for eight months and would like to continue their relationship with this Field Partner. The husband mentioned that though the amount of the loan is satisfactory, in the future they would be asking for longer loan terms; having a three or four month repayment plan makes the monthly payments too high (ie 600 soles paid back over 10 months is 60 soles a month while over 3 months it’d be 200 soles a month). The Chuquihuaras have five children and four grandchildren. Thus, it should come as no surprise that they are using the profits of their respective businesses to build a second story to their house. Thank you for your support of this husband/wife painting duo and by extension, the many lives they affect.

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

I recently had the opportunity to visit the EDAPROSPO client you lent to and have posted a video on YouTube of our interaction. If the embedded video does not show up, please visit the YouTube location here: http://www.youtube.com/watch?v=aYo0vDnjNh8

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Enjoy!

Kiva Fellow Josh Bull

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.