Mercy Akossa


Status: Paying Back - Delinquent

$825.00   Loan Amount
16% repaid

About the Entrepreneur

Name: Mercy Akossa
Location: Cape Coast, Ghana
Activity: Food Market

About the Loan

Loan Amount: $825.00
Loan Use: To buy more food supplies to sell and expand her business.
Repayment Term: 9 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: May 18, 2009
Date Disbursed: May 6, 2009
Date Funded:May 18, 2009

About the Country

Country:Ghana
Avg Annual Income:$2,643.00
Currency:Ghana Cedis (GHS)
Exchange Rate:1.4644 GHS = 1 USD



Mercy Akossa sells maize, gari, and oil at Yamoransa in Cape Coast and has been doing so since 2000. She is married and has 3 children. Her husband is an operator. Mercy completed senior high school. She is responsible for paying the family's light and water bills.

Mercy will use her her loan to improve her business by buying more food supplies to sell. She hopes to use the new profits from her business to educate her children.



Important Information About This Loan
Please note that Kiva considers loans to this Field Partner, CRAN, to be particularly HIGH RISK. This organization has had very serious delinquency problems brought about by problems with its credit methodology, local environmental shocks including a depletion of local fisheries in its core area of operation (Cape Coast and the Central Province), and insufficient follow up with late clients. Lenders to this business should be aware that there is an increased risk of not getting repaid on this loan due to the challenges facing the Field Partner.

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Journal entries for Mercy Akossa


Loan has been disbursed
 
Entrepreneur: Mercy Akossa
Location: Cape Coast, Ghana

Thank you for your loan. It has been disbursed to Mercy Akossa by Christian Rural Aid Network (CRAN) in Ghana. We are excited to watch this business grow. Over the 7 months of this loan, Christian Rural Aid Network (CRAN) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Cape Coast, Ghana
May 19, 2009
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Kiva Help Repayment Schedule for Mercy Akossa

  Expected Repayments Actual Repayments Comments
September 2009 $137.50 $137.50 Repayment Received
October 2009 $137.50 $0.00 Delinquent
November 2009 $137.50 $0.00 Delinquent
December 2009 $137.50 Available Dec 1  
January 2010 $137.50 Available Jan 1  
February 2010 $137.50 Available Feb 1