Abena K. is a producer of palm oil at Abura, near Frami. She also sells cosmetics and underwear. Abena has attained a senior high level of education. She is married and has 2 children. Her husband is a petty trader. As a way of supporting her husband, she pays the school fees of her children. She wants to expand her cosmetics and underwear business. So she is requesting a loan to buy these items in larger quantities for resale. The increase in her capital as a result of the loan will be used to build a shop.
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.