Yakubu is a hardworking man. He also sells groundnut, maize, beans, and yams. He brings them from the northern part of the country and supplies them to some junior and senior high schools within and outside Cape Coast. He is a well-known trader. He also sells cosmetics, mineral water, and minerals such as Coca Cola, Malta, and Fanta.
One major challenge that Yakubu faces is the high cost of transportation from the northern part of the country to supply his customers. He is therefore asking for a loan of US $1,200 to enable him to pay for the high cost of transportation and bring in more food such as maize, yam, groundnut, and sweet potatoes to supply to the junior and senior high schools. He also wants to buy more creams and body lotions to fill his cosmetics store.
Important Information About CRANPlease 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.
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Success!! The loan was 100% repaid