Giovanna Rosales

Thank you for your loan. It has been disbursed to Giovanna Rosales 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.

Mariscal Cáceres o Bayóvar, SJL.

Con 11 años en la venta de balones de gas a domicilio dentro de su mismo barrio, la señora Giovanna, de 41 años de edad, ha visto la evolución de su negocio, gracias a sus fieles clientes y al desarrollo de su mismo barrio en sí y lo que esto refleja en su negocio. Ella es provista de los balones de gas mediante una distribuidora semanalmente, lo que aumenta sus egresos, por lo que anhela poder contar con más capital para dicha adquisición, en pos de aumentar sus ganancias.

Tiene 2 hijos en el colegio, de 14 y 6 años, para los cuales realiza tan sacrificada labor, quiere verlos desarrollarse personal y profesionalmente, y sabe que la educación es esencial para ello.

En pro de construir dicha realidad para sus menores hijos, ella va a necesitar próximamente de un préstamo de 800 soles, lo que le facilitaría la adquisición de más balones a un menor precio, dándole réditos mucho más altos para su bienestar.

This update has been provided by a new staff member at EDAPROSPO, Darwin dedicated to their clients on KIVA. As he speaks only Spanish, I suggest using Google Translate or a similar free service to translate this update. If you see only a Kiva symbol, please click it to view a high-quality, up-to-date photo of the entrepreneur.

One quick note, EDAPROSPO is waiting until the end of the loan cycle to provide updates on the entrepreneurs. In this way, they hope that you can gain a better understanding of the social impact of the loan. If you would like to support other currently fundraising loans of EDAPROSPO clients on Kiva, please click here.

Also I had the opportunity to accompany Darwin on his interview of Mrs. Rosales and will be posting that video shortly to a future journal update.

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=YIs_IzRBNn8

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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.