Gifty N. is married to a driver and has 2 children. To help support her family, Gifty has been selling a variety of items, such as sandals, shoes, and clothing materials. She is requesting a loan of $525 to buy additional items to expand her business. She hopes this capital will increase her profit levels, since she’ll no longer have to buy items on credit. Gifty is also a member of a lending group called “Nyame Ye Kase Traders”, which consists of 14 borrowers in Cape Coast, Ghana.
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.