Vida E. is a happily married woman with three children. She has been educated to the senior high level. Vida operates a provisions shop and sells things such as spaghetti, canned tomatoes, cooking oil, soaps and other items at Elmina. Her husband is a plumber. Vida uses the income she generates to help her husband with the upkeep of the home. Vida will use the loan to purchase more provisions for resale and start buying fabric for sale. Trading in fabric will serve as an additional business venture to enter into to generate additional income. With the new profits from her expanded business, Vida plans to save to buy land.
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.