Clifford A. is married and has seven dependents. He has a senior high school education. Clifford sells palm oil and nut crackings for the making of palm kennel oil in Elmina. His wife is a petty trader. The loan acquired by Clifford will be used to purchase gas/oil for his mill processor (machine) and palm fruits for making palm oil. Clifford uses his income to take care of his wife and dependents and for the general upkeep of the home. With the new profits from his expanded business, Clifford plans to save money for a good educational foundation for the children.
To prepare his locally made palm oil, Clifford gets his palm nuts from farmers. He washes them and boils them for about forty minutes until they become soft and tender. The cooked fruits are scooped into a big mortar and gently squashed with a pestle to squeeze out the juice covering the pulp while avoiding damaging the nut. Once this is done, the juice is filtered to remove the chaff (which is sometimes used by the local people to light charcoal fires). The juice is boiled again and the fresh oil floats on the contents of the pot. It is scooped into yet another pot and left to cool. Fresh oil from palm fruits is traditionally used in eating roasted yam or plantain in Africa, especially on the farms after a hard day's work.
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.