Since 2004 Emmanuel S. has worked as a trader at Shama Junction, selling such goods as plastic bags and frozen fish. He is married with three children and received an education through Junior High School. His wife is also employed as a trader in the area. Emmanuel is responsible for paying for various family essentials, such as water and light bills, and also for providing housekeeping money. His loan will be used to increase his capital to buy more fresh fish for his cold store. He hopes to use his newly gained profits to reinvest back into the business.
Important Information About CRAN
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.
CRAN's creditors - including Kiva - have entered into a new Restructuring Agreement (For more information, please see CRAN's Field Partner profile: http://www.kiva.org/partners/91 ). Kiva will extend its ongoing policy of allowing CRAN to continue to raise funds on the Kiva website. New funds raised will be used to make repayments on older CRAN loans via Kiva’s standard net billing process.