Since 2007, Philomina M. has worked as a petty trader in Elmina selling such goods as rice, oil, canned tomatoes and salt. She is married with 2 children and has received an education through Senior High School. While Philomena makes her living as a petty trader, her husband works in the Elmina area as a boat carver. She is responsible for assisting her husband in paying school fees. Her loan will be used to purchase additional food items for re-sale and she hopes to use the new profits from her business to save and build a home.
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.