Augustina operates a chop bar where a variety of African dishes are sold. This she has done for two years. The food she serves are fufu [a starchy dumpling], banku [a local dish made from corn dough] and rice balls. She lives together with her husband and two children. Augustina uses her income to help her husband pay for their children’s school fees. Augustina will use her loan to purchase foodstuffs and ingredients to prepare her food for sale. With the new profit, Augustina 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.