For the past two years Abena has cooked and sold meals of rice topped with a meat and vegetable sauce. She uses her income to help pay for the children’s school fees.
Abena is applying for a 400 GHS loan from CRAN to buy bags of rice, meat and other ingredients she needs to prepare the food she sells. Her ambition is to establish a restaurant with her extra profits.
Important Information About CRANPlease 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.
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Success!! The loan was 100% repaid