Isabel Velásquez Antezana

Thank you for your loan. It has been disbursed to Isabel Velásquez Antezana by EDAPROSPO in Peru. We are excited to watch this business grow. Over the next 5 months, EDAPROSPO will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Mrs. Isabel Velasquez Antezana is an entrepreneur living in Matucana, a small town in the sierra about 3 hours east of Lima. Isabel started her business in the street market of Matucana selling avocados and then fruit. After continuing to hear many requests from women for flowers, she opened an adjacent stall doing just that.

Every Tuesday and Friday, Isabel drives down to a flower market in Lima called Santa Rosa. When she is away in Lima buying flowers, her 30 year-old daughter tends the stall for her. Back in Matucana, she sells bouquets for 2 soles each. She works from 7am to 6pm during the week and 6am to 6pm on the weekends. Flowers have proven to be a more profitable business than the fruits. She now makes around 400 soles in profit each month. She is using the profits to pay the university and institute (a pre-university school) fees for her two children in school. Her goals are that she can continue to keep working and one day her sons in school will find jobs and be able to support her. Thank you for being a part of Isabel's entrepreneurial activity on behalf of her family; your loan has helped her business grow enough to cover this time of increased costs for her family (the university and institute fees).

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.