Philomena sells grocery like powdered milk, toffees, powdered pepper, biscuits, and others at Elmina. She is married and has 4 children. Philomena has been in this business for some years now. She uses her income to assist her husband in paying their utility bills. She will use her loan to buy groceries like milk, powdered milk, canned tomatoes, cooking oil, canned fish and others to satisfy her customers' needs. She hopes to use the new profits to expand her business.
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.