Felicia A. is married and has four dependents. She has received schooling through junior high. Felicia sells foodstuffs and household appliances at Melcom in Hohoe, which she has done since 1995. Her husband is a petty trader who earns little for a living. Felicia uses her income in supporting her husband in paying the housekeeping expenses.
Felicia will use the loan to buy more of the foodstuffs and household appliances that she sells to expand her business. With the new profits from her expanded business, Felicia plans to reinvest in her 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.