Sonia Gaudencio

Thank you for your loan. It has been disbursed to Sonia Gaudencio 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.

Sonia Gaudencio owns a poultry stand at a semi-outdoor market in El Antonio, a suburb of Lima, Peru. She has been selling chickens and eggs (wouldn’t say which one first J) for almost ten years. While your loan has allowed her to sell more product every day, her profits have not really changed because of the increasing cost of live chickens. She makes about 100 to 150 soles in profits daily. She buys chickens live for 5 soles each and sells them (after several intervening steps) for 7 soles a kilo at the market. She sells on average 150 chickens a day. She has two children, ages 12 and 7, and she says their situation has improved over the course of the loan cycle.

Sonia works at the market from 5am until 1pm everyday and works at her restaurant from 6pm until 11pm. Her business began as a cart outside of the market; now she has a large stall inside the paved and well-lit market. Thank you for being a part of Sonia’s chicken business.

One quick note, EDAPROSPO is waiting until the end of loans to provide a journal update. In this way, they hope that you can get a better sense of the social impact of your loan. If you would like to lend to other businesses with EDAPROSPO, please click here for their currently fundraising entrepreneurs on Kiva.

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.