Mirtha Leticia,

Status: Paying Back - Delinquent

$300.00		Loan Amount

76% repaid

About the Entrepreneur

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

Name:	Mirtha Leticia,
Location:	Location Undisclosed, Peru
Activity:	Jewelry

About the Loan

Loan Amount:	$300.00
Loan Use:	buy materials for jewelry-making
Repayment Term:	6 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Mar 27, 2009
Date Disbursed:	Mar 17, 2009
Date Funded:	Mar 27, 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:	United States Dollars (USD)

Thanks to the advice a close friend, who is an experienced business owner, Mirtha has had her own business for the past 3 years. At 40 years old, she has spent the majority of her life as a housewife, dedicated to caring for her home and three children, who are 20, 7 and 4 years old. Mirtha makes earrings, bracelets and necklaces that she sells to friends, acquaintances and family. She started with very little and at that time did not know about the loans offered by EDAPORSPO. Once she got a loan she invested in more materials and began producing a lot more. For now, part of her earnings are re-invested and the other part goes towards personal expenses for her and her younger children. Her husband, who works as a mechanic for a company, is the primary earner in the family. In the meantime, Mirtha is dedicated to expanding her business.

Translated from Spanish by Rachel Crouch, Kiva Volunteer

Gracias a los consejos de una cercana amiga, una microempresaria con experiencia, Mirtha maneja su negocio propio desde hace tres años. A sus cuarenta y un años, la mayor parte de su vida ha sido ama de casa, dedicándose al cuidado de su hogar, en especial de sus tres hijos de veinte, siete y cuatro años.

Mirtha trabaja fabricando aretes, pulseras y collares para venderlas por unidad a amigos, conocidos y familiares. Al inicio empezó con poco, pues aun no sabia de los prestamos que EDAPORSPO brindaba, una vez que obtuvo el financiamiento pudo invertir mas en la compra de sus materiales y as poder producir mucho mas.

Por ahora, una parte de sus ganancias las vuelve a invertir y la otra para gastos particulares de ellas y de sus menores hijos. Su esposo, quien trabaja como mecánico para una empresa, es quien mantiene principalmente el hogar. Mientras, Mirtha se dedica a crecer con su negocio más y más.

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Journal entries for Mirtha Leticia,

Loan has been disbursed Entrepreneur: Mirtha Leticia, Location: Location Undisclosed, Peru Thank you for your loan. It has been disbursed to MIRTHA LETICIA, by EDAPROSPO in Peru. We are excited to watch this business grow. Over the 3 months of this loan, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Location Undisclosed, Peru Mar 28, 2009
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Mirtha Leticia, Location: Location Undisclosed, 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 (4)

Repayment Schedule for Mirtha Leticia,

Show Advanced

	Expected Repayments	Actual Repayments	Comments
May 2009	$0.00	$13.61
June 2009	$75.00	$61.39	Repayment Received
July 2009	$75.00	$154.58	Repayment Received
August 2009	$75.00	$0.00	Repayment Received
September 2009	$75.00	$0.00	Delinquent