Porfirio,

Status: Paid Back

$150	Loan Request Pre-Disbursed : Feb 18, 2009 Listed: Mar 21, 2009 Funded: Mar 21, 2009
$150	Paid Back Ended: Jul 2, 2009

About the Field Partner

EDAPROSPO administers this loan. Learn more

Field Partner:

EDAPROSPO

Field Partner Risk Rating:

(Learn more)

Fundraising Status:

Active

Time on Kiva:

25 months

Kiva Entrepreneurs:

2821

Total Loans:

$798,150

Interest & Fees are Charged:

Yes (Learn more)

Portfolio Yield:	43%
Profitability (Return on Assets):	2%
Average Loan Size (% of Per Capita Income):	8%

Delinquency Rate:

10.05%

Default Rate:

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Peru
Avg Annual Income:	$6,715
Currency:	United States Dollars (USD)

About the Loan

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

Location:	Location Undisclosed, Peru	Repayment Term:	6 months (more info)
Activity:	Personal Education Expenses	Repayment Schedule:	Monthly
Loan Use:	To purchase merchandise: school supplies	Currency Exchange Loss:	N/A
		Default Protection:	Not Covered

In the beginning Porfirio only sold personal hygiene products, such as soaps, creams, etc. At first he did not make enough money to have a permanent storefront so he sold his goods by walking around. Little by little Porfirio came up with ways to grow his business. He took advantage of seasonal products, selling items for Christmas, school, etc.

At 50 years old, he finally decided to open a storefront inside of a small commercial center in downtown Chosica. He rented a stall so that he could sell school supplies year round. Today, after five years and thanks to a lot of hard work, Porfirio has not only one storefront, but runs three at the same time and has added a small space to sell technology products in addition to his normal items.

He has always reinvested his earnings in his business and for this reason it is not surprising that he has achieved such great success. In the future he will continue to run his business and perhaps will open another bookstore location.

Translated from Spanish by Matthew Raimondi, Kiva Volunteer

Empezó vendiendo solamente productos para la higiene personal, como shampoo jabón cremas etc. Al inicio no contaba con el capital para poder tener un puesto estable, por lo que se dedicaba al comercio ambulante. Poco a poco, Porfirio se las fue ingeniando para crecer en su negocio, es así que no desaprovechó las temporadas especiales de venta como las campañas navideñas, escolares, etc.

A sus cincuenta años, se decidió finalmente por tener un local dentro de un centro comercial pequeño en el centro de Chosica. Alquiló un puesto para poder vender durante todo el año útiles escolares. Hoy, luego de cinco años y gracias a su gran esfuerzo no solo cuenta con un local, sino con tres al mismo tiempo donde también ha añadido un pequeño espacio para la venta de productos tecnológicos además de lo usual.

Las ganancias de su trabajo siempre lo ha vuelto a invertir es por eso que hoy no se sorprende por todo lo que ha obtenido. En el futuro el se ve con e mismo negocio pero tal vez con otro puesto mas de su librería.

Lenders to this entrepreneur

Anonymous
Lynnwood, WA
United States

Kenneth
Berea, OH
United States

Isabella

Canada

Journal entries for Porfirio,

Loan has been disbursed Entrepreneur: Porfirio, Location: Location Undisclosed, Peru Thank you for your loan. It has been disbursed to PORFIRIO, by EDAPROSPO in Peru. We are excited to watch this business grow. Over the 4 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 22, 2009
Comment on this entry

Update on your loan administered by Kiva Field Partner EDAPROSPO Entrepreneur: Porfirio, 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 Porfirio,

Show Advanced

	Expected Repayments	Actual Repayments	Comments
May 2009	$37.50	$37.50	Repayment Received
June 2009	$37.50	$37.50	Repayment Received
July 2009	$37.50	$75.00	Repayment Received
August 2009	$37.50	$0.00	Repayment Received