Isadora Chihuan Quintana De Aponte

Thank you for your loan. It has been disbursed to Isadora Chihuan Quintana De Aponte 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.

Mrs. Isadora Chihuan Quintana De Aponte runs a very successful and booming restaurant in the neighborhood of El Agustino, a suburb of Lima, Peru. Her husband runs an internet café next door and she recently moved her own business off the street and into the front room of their house. The cart she used to sell out of is still useful, serving as a counter for food at her new restaurant. She has painted her specialties and the daily menu (a fixed course meal) on a door that swings open to the street. Even though the move to a full restaurant is new, the place is already selling out. She sells everything she makes and sometimes has to close early because they’ve run out of food! She opens the doors at 5pm and is usually out of food by 10pm or so. Mrs. Quintana hopes that one day she will only have to be the owner and maybe cashier and leave all the work to her daughter who currently helps her and maybe some employees. Due to the intense popularity of her new restaurant, she is contemplating tearing down the back wall and expanding the room further into the house; she doesn’t have many tables and adding more room could increase the number of people served at a time. Thank you for loaning to Isadora; the extra capital has helped her fortify a food sales business and stumble into an incredibly exciting new phase as a restaurant owner/worker/cook.

I took some footage of Isadora and her daughter preparing for tonight's onslaught of customers and will be posting that very soon. In the meantime, if you want to support other entrepreneurs like Isadora who are clients of EDAPROPSO, please click here for their currently fundraising loans.

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=Ab6QF1uAbt8

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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.