Isaac A. is married and has 1 child. He has received primary schooling. Isaac is a fisherman in Abotoase, a small fishing community near Hohoe. His wife is a hairdresser whose business is not very big and generates little income. Isaac uses all of his income taking care of the financial responsibility for the child and other housekeeping expenses. With the high demand for fish in the community and beyond, Isaac will use the loan to purchase a bigger net for fishing. Isaac plans to save the new profits from his expanded 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.