Theresa is divorced and has five children. She is standing close to the cupboard in which she stores the bread after she has taken it out of the oven to cool (she does this to prevent flies from settling on the bread before it is bagged). She has run her business for about 12 years. Theresa will use the loan to purchase flour, sugar, currants and other ingredients for baked goods. With the new profits from her expanded business, Theresa plans to buy an additional oven.
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.