Beatrice sells locally made doughnuts, which are called “bofrot”, in Alavanyo, Hohoe. Beatrice has received basic education. She is married with four children and her husband is a carpenter. Beatrice has been selling doughnuts so that she can assist her husband with their basic needs at home. Her loan will be used to buy flour, oil, sugar and margarine, which are the main ingredients for frying doughnuts. She hopes to save part of the new profits from her business and use part to give more nutritional food to her family so that her children can be brilliant in school.
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.