Mercy operates a grocery shop and a chop bar (where a variety of African dishes are sold). She has done this for eight years now. The items in her grocery shop are different kinds of drinks, biscuits, toffees, and powdered milk. The food she serves in the chop bar are fufu, banku, and rice balls. She is married with five children. Mercy uses her income to support her husband and to pay their children’s school fees. She will use her loan to purchase a variety of groceries to sell and food stuffs for her chop bar. With the new profits, Mercy plans to operate a restaurant.
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.