Kobena E. is married and has four children. He has no educational background. Kobena sells gari, which he gets from processed cassava at Kormantse near Cape Coast. He has done this since 1990. His wife is a trader. Kobena uses his income to feed his family and pay his children’s school fees. Kobena will use the loan to increase his capital to buy more cassava to process for sale. With the new profits from his expanded business, Kobena plans to save towards building a new house.
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.