Agenes fries doughnuts to sell at Batanya near Cape Coast, which she has done for some time now. She is a widow with three children, so she is responsible for feeding, clothing and paying her children's school fees. She uses her income for these expenses. Agenes needs this loan to enable her to purchase bags of flour, sugar and cooking oil for her doughnuts. With the new profit, she will save to give her children a better education.
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.