Nancy is a baker. She bakes bread for sale. She also operates a grocery shop at Adum Banso. Some of the items in the grocery shops are soap, tin tomatoes, and milk. Her husband works at the Benso Oil Plantation. Nancy has been in this business for 6 years now. She supports her husband to pay their utility bills with her income.
Nancy will use her loan to purchase bags of flour, sugar and cooking oil for her bakery and a variety of grocery items to satisfy her customers. She hopes to expand her business with the new profit.
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.