Elina

Status: Paid Back

$250.00		Loan Request
$250.00		Paid Back

About the Entrepreneur

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

Name:	Elina
Location:	Location Undisclosed, Peru
Activity:	Clothing Sales

About the Loan

Loan Amount:	$250.00
Loan Use:	To buy clothing
Repayment Term:	5 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Mar 29, 2009
Date Disbursed:	Mar 11, 2009
Date Funded:	Mar 29, 2009
Loan Ended:	Jun 21, 2009

About the Field Partner

Field Partner:

EDAPROSPO

Field Partner Risk Rating:

(Learn more)

Active

22 months

1823

$540,625

2.61%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Peru
Avg Annual Income:	$6,715.00
Currency:	United States Dollars (USD)

A little while ago Elina opened her grocery business and variety store as a bazaar in her home. However, because the area where she lives is not very frequented, this business did not do well. For this reason, six months ago she decided to sell clothing as a street vendor as well as on order.

In addition to this work, she sells salchipapas [fried hotdogs and french fries] at night from the doorway of her home, a small business which it turn out has been quite profitable. In the future, she would like to look for a good location to open a restaurant.

The income she makes from her two businesses is used for her two children aged 18 and 15 who are still in school.

Translated from Spanish by Laure Kwon, Kiva Volunteer

Hace algún tiempo Elina su negocio de venta de abarrotes y artículos varios en un bazar en un local de su casa. Sin embargo, como la zona donde vive ella no es muy transitada no tuvo éxito con aquel trabajo. Por lo que decidió hace medio año dedicarse más bien a la venta de ropa como ambulante y bajo pedidos

Además de esto, por las noches vende salchipapas en la puerta de su casa, pues es un negocio pequeño pero finalmente más rentable. Más adelante quisiera buscar un local bien ubicado para abrir un restaurante.

Los ingresos que obtiene de sus dos trabajos los destina especialmente a sus dos hijos de dieciocho y quince años que aún se encuentran estudiando.

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Journal entries for Elina

Loan has been disbursed Entrepreneur: Elina Location: Location Undisclosed, Peru Thank you for your loan. It has been disbursed to ELINA by EDAPROSPO in Peru. We are excited to watch this business grow. Over the 2 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 30, 2009
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Elina 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 (30)

Repayment Schedule for Elina

Show Advanced

	Expected Repayments	Actual Repayments	Comments
May 2009	$0.00	$29.42
June 2009	$83.34	$53.91	Repayment Received
July 2009	$83.34	$166.67	Repayment Received
August 2009	$83.32	$0.00	Repayment Received