Nana Y. is divorced and has three children. Nana is a fish monger at Abbina, near Elmina, a fishing community in Cape Coast. She has been in this trade for 8 years. Nana wishes to increase the supply of fish to her customers; she can only do this buy increasing her capital base. A loan will serve as increased capital to expand her fish smoking business.The income realized from her sales as a result of the capital will be reinvested back into her business. Nana is standing close to the traditionally built oven, with some of the fresh fish ready to be smoked.
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.