Philomena Persah


Status: Paying Back - Delinquent

$475.00   Loan Amount
83% repaid

About the Entrepreneur

Name: Philomena Persah
Location: Elmina, Ghana
Activity: Fish Selling

About the Loan

Loan Amount: $475.00
Loan Use: To expand her business and to meet customer demand by purchasing additional food supplies and fresh fish
Repayment Term: 9 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jan 25, 2009
Date Disbursed: Jan 28, 2009
Date Funded:Jan 25, 2009

About the Country

Country:Ghana
Avg Annual Income:$2,643.00
Currency:Ghana Cedis (GHS)
Exchange Rate:1.2955 GHS = 1 USD



Philomena Persah is married and has one child. She has received schooling through junior high. Her husband is a trader.



Since 2002, Philomena has been in the fish-selling industry. More specifically, her husband purchases fish from other fishermen and brings the fish home for processing and preservation, and then she sells such fish at the market at Tatermu in Elmina. Philomena explains that she uses her business's income to support her husband in paying rent, utility bills, and other basic living expenses of their family.



Philomena is now requesting a loan to purchase more food supplies and fresh fish in order to meet the increase in demand by her customers. With the expected increase in profits from her expanded business, Philomena plans to invest in her child's education.



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 Philomena Persah


Loan has been disbursed
 
Entrepreneur: Philomena Persah
Location: Elmina, Ghana

Thank you for your loan. It has been disbursed to Philomena Persah by Christian Rural Aid Network (CRAN) in Ghana. We are excited to watch this business grow. Over the 6 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 Elmina, Ghana
Jan 28, 2009
Comment on this entry

Update for Philomena Persah
 
Entrepreneur: Philomena Persah
Location: Elmina, Ghana

Together with her husband, her mother and one child, Philomina lives in a small apartment in Cape Coast/Elmina. She trades with fish. A big problem for fish-traders in Elmina is, that the fish is not always available or only to increased prices, without any chance to get profit from it.

This is one reason, why Philomina decided to take a microloan form the Christian Rural Aid Network (CRAN), to cope with those difficulties. She also reinvest a great part of her loan in her business, to buy fish. Her income increased noticeably, so she is able to cope with any kind of financial problems she had before.

Philomina hopes, that her business goes on increasing and she will be able to send her child to school, if possible, for a much better education than she received.

She thanks every lender for giving her the chance to achieve those hopes and dreams of her life. “May God bless all of them”.

About Christian Rural Aid Network:

Christian Rural Aid Network is a non-governmental, rural development organization established in 1993 with the aim of promoting an improvement in the quality of life and the socio-economic development of the rural poor in Ghana. Based in Cape Coast and operating in three regions and seven different districts, CRAN’s work is based on the values of Christian motivation and obligation towards the development of the individual as a whole, employing and promoting “demand-led” or “self-help” strategies for community development and rural poverty reduction. CRAN’s mission is to “work towards the improvement in the quality of life of the rural poor, the disadvantaged and the marginalized populations and communities in a holistic fashion (physically, socially, economically and spiritually), with emphasis on the right of children to quality formal education, in addition to the economic and social empowerment of women in a professional and qualitative manner”. To learn more about CRAN, click here. To browse through profiles of recent CRAN loan applicants and to make a loan to another worthy CRAN loan client, click here.


Posted by Tobias Hoelscher from Elmina, Ghana
Oct 7, 2009
Comments (1)

Kiva Help Repayment Schedule for Philomena Persah

  Expected Repayments Actual Repayments Comments
May 2009 $79.17 $79.17 Repayment Received
June 2009 $79.17 $79.16 Repayment Received
July 2009 $79.17 $79.17 Repayment Received
August 2009 $79.17 $79.17 Repayment Received
September 2009 $79.17 $79.18 Repayment Received
October 2009 $79.15 $0.00 Delinquent