Mohamed A. works as a mechanic and sells car brake linings at Moree Junction which he has done since 1998. He is married with 3 children and has received an education through Junior High School. While Mohamed works as a mechanic, his wife is employed as a "gari" (cassava grits) trader. He is responsible for his family’s various financial expenses including the light bill and income tax. His loan will be used as additional capital to expand the business by acquiring more spare parts to aid in his repair work. He hopes to use his newly gained profits to further his children’s education.
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.