Ernestine operates a grocery store. This she has done for five years. The items in her grocery shop are milk, Milo, canned fish, canned tomatoes, different kinds of drinks, biscuits, toffees, powdered milk and others. She is married to a farmer and has six dependents. Ernestine uses her income to support her husband, paying their children’s school fees. She will use her loan to purchase a greater variety of grocery items, to satisfy her customers. With the new profit, Ernestine plans 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.