Alex Aduboahen

Status: Paying Back - Delinquent

$375.00		Loan Amount

50% repaid

About the Entrepreneur

Name:	Alex Aduboahen
Location:	Cape Coast, Ghana
Activity:	Shoe Sales

About the Loan

Loan Amount:	$375.00
Loan Use:	To expand his business selling second-hand shoes.
Repayment Term:	9 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Mar 27, 2009
Date Disbursed:	Mar 27, 2009
Date Funded:	Mar 28, 2009

About the Field Partner

Field Partner:

Christian Rural Aid Network (CRAN)

Field Partner Risk Rating:

(Learn more)

Active

23 months

2427

$1,054,875

55.72%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Ghana
Avg Annual Income:	$2,643.00
Currency:	Ghana Cedis (GHS)
Exchange Rate:	1.4207 GHS = 1 USD

For the last 10 years, Alex Aduboahen has made a living second-hand shoes at Kingsway in Cape Coast. He has a high-school degree, is a hard worker and is committed to pay all his bills on time. Alex will use this loan to expand his business, and hopes to use the increased profits made possible by this expansion to buy land and build a house on it.

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 Alex Aduboahen

Loan has been disbursed Entrepreneur: Alex Aduboahen Location: Cape Coast, Ghana Thank you for your loan. It has been disbursed to Alex Aduboahen 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 Mar 29, 2009
Comment on this entry

Updates For Alex Aduboahen Entrepreneur: Alex Aduboahen Location: Cape Coast, Ghana On a visit to Alex some few months after the loan was received, we could clearly see how the loan has helped expand his business of selling footwear’s for both men and women. With the loan, Alex increased the quantity of footwear’s he bought which he sold for more profit. With the increased profit he was able to pay his rent and settled all his debts. I asked him what he would use the profit he will make from the footwear he had bought to be sold. And he said... "He would reinvest the profit into his business so he can make some more profit so as to help him build his store". He wants to say thanks for lending to his business. 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 Solomon Edziah from Cape Coast, Ghana Oct 21, 2009
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Repayment Schedule for Alex Aduboahen

Show Advanced

	Expected Repayments	Actual Repayments	Comments
July 2009	$62.50	$62.50	Repayment Received
August 2009	$62.50	$62.50	Repayment Received
September 2009	$62.50	$62.50	Repayment Received
October 2009	$62.50	$0.00	Delinquent
November 2009	$62.50	$0.00	Delinquent
December 2009	$62.50	Available Dec 1