Comfort Mbia


Status: Paying Back - Delinquent

$550.00   Loan Amount
83% repaid

About the Entrepreneur

Name: Comfort Mbia
Location: Elmina, Ghana
Activity: Grocery Store

About the Loan

Loan Amount: $550.00
Loan Use: To expand and improve her business by purchasing additional fresh fish, firewood, and groceries
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



Comfort Mbia is a married woman with two children. She has received schooling through junior high. Her husband is a fisherman.



Since 2002, Comfort has been in the business of selling groceries (e.g., biscuits and canned products) and fish. With respect to her fish-selling operation, her husband buys the fish from other fishermen, brings the fish home for processing and preservation, and then Comfort sells the fish at the market at Tatermu in Elmina. By doing so, Comfort is able to support her husband in paying rent, utility bills, and other basic living expenses of their family.



She is now seeking a loan in order to buy more fresh fish, firewood, and groceries. With the expected increase in profits from her expanded business, she would like to both reinvest in her business and to invest in her children'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 Comfort Mbia


Loan has been disbursed
 
Entrepreneur: Comfort Mbia
Location: Elmina, Ghana

Thank you for your loan. It has been disbursed to Comfort Mbia 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
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Update for Comfort Mbia
 
Entrepreneur: Comfort Mbia
Location: Elmina, Ghana

Comfort lives together with her husband, who is a fisherman and taxi driver, and her two children, both of them going to basic school. She trades with equipment, which is needed to smoke fish, beside that she is also selling provisions. She decided to take a microloan from the Christian Rural Aid Network (CRAN), to expand and improve her business.

Before Comfort received the loan, she had to buy this type of equipment in Elmina for high prices, that reduced her profit, because it had to be transported from Accra, the capital of Ghana, to Elmina. The credits, with very high interest, she had to get, to buy the equipment, were another problem.

Now, after receiving the loan from CRAN, she is able to buy her goods directly in Accra, for cheaper prices and she is able to pay it from her profit, which increased. Beside her business, Comfort is very proud of her collecting of blocks, she just started, to build a house for her children, some time.

To expand her business and to buy a vehicle for commercial use, as a taxi, are her hopes at the moment. Comfort want to thank all the lenders, for giving her the chance to build her dreams, “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
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Kiva Help Repayment Schedule for Comfort Mbia

  Expected Repayments Actual Repayments Comments
May 2009 $91.67 $91.67 Repayment Received
June 2009 $91.67 $91.66 Repayment Received
July 2009 $91.67 $91.67 Repayment Received
August 2009 $91.67 $91.67 Repayment Received
September 2009 $91.67 $91.68 Repayment Received
October 2009 $91.65 $0.00 Delinquent